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Meeting of GCC Committee of Governors of Monetary Institutions and Central Banks
<img alt="" src="https://publishing.bnet.om/sites/assets/PublishingImages/Global/News/newsGCCMeeting1April2020.jpg" style="BORDER:0px solid;" />
3/31/2020 8:00:00 PM
Meeting of GCC Committee of Governors of Monetary Institutions and Central Banks
The Central Bank of Oman participated in the 74th GCC Committee of Governors of Monetary Institutions and Central Banks meeting via video call this morning Wednesday the 1st of April 2020.
<p style="text-align:justify;"><span class="ms-rteFontSize-2 ms-rteThemeFontFace-1 ms-rteThemeForeColor-2-0">The Central Bank of Oman participated in the 74<sup>th</sup> GCC Committee of Governors of Monetary Institutions and Central Banks meeting via video call this morning Wednesday the 1<sup>st</sup> of April 2020. The CBO participation was headed by His Excellency Tahir Salim Abdullah Al Amri. </span></p><p style="text-align:justify;"><span class="ms-rteFontSize-2 ms-rteThemeFontFace-1 ms-rteThemeForeColor-2-0">During the meeting, monetary institutions and central banks assured the close following up of the impact of the outbreak of the novel coronavirus (COVID-19) and its implications on GCC economy in general and the financial and banking sectors in particular. </span></p><p style="text-align:justify;"><span class="ms-rteFontSize-2 ms-rteThemeFontFace-1 ms-rteThemeForeColor-2-0">His Excellency Tahir Salim Abdullah Al Amri, the Executive President of the Central Bank of Oman, noted that CBO is implementing a myriad of stimulatory and precautionary measures to mitigate the effects of this outbreak on the Omani banking and financial sector. HE also affirmed CBO continuous commitment towards providing all means of necessary support to maintain the integrity and stability of the sector, stressing the importance of cooperation during this phase to ensure provision of uninterrupted banking services to clients until this exceptional situation is peacefully over. </span></p><p style="text-align:justify;"><span class="ms-rteFontSize-2 ms-rteThemeFontFace-1 ms-rteThemeForeColor-2-0">During the participation, the GCC committee discussed during its meeting a host of issues pertaining to the supervision and regulation of the GCC banking sector, payment systems, financial technologies and cyber security in banks. Other topics addressed by the committee included the mutual dialogue between GCC monetary institutions and central banks and a number of key economic groups and institutions. </span></p>
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