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CBO Board Holds First Meeting of the Year
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3/18/2018 8:00:00 PM
CBO Board Holds First Meeting of the Year
The Central Bank of Oman’s Board of Governors held their first meeting of the year on Monday, 19th March 2018. The meeting was chaired by H.E. Sultan Bin Salim Bin Saeed Al-Habsi, Deputy Chairman of CBO’s Board of Governors.
<p>The Central Bank of Oman’s Board of Governors held their first meeting of the year on Monday, 19th March 2018. The meeting was chaired by H.E. Sultan Bin Salim Bin Saeed Al-Habsi, Deputy Chairman of CBO’s Board of Governors.</p><p>In the meeting, the Board reviewed CBO’s report examining trends of various key indicators related to the financial and economic condition of the Sultanate in light of the regional and international developments. The Board was also updated on the developments in the local banking sector on the volume of credit, liquidity and asset quality, as well as on the financing and other services provided to small and medium enterprises.<br>In line with the Central Bank of Oman’s role of stimulating the national economy and contributing to the improvement of the business environment, the Board has suggested a number of amendments to the Banking Control and supervisory requirements aimed at encouraging local banks and strengthening their ability to grant and extend credit facilities to various projects and different sectors in the country. The Executive management of the Central Bank will take the necessary actions in this regard.</p><p>Meantime, the Board also reviewed CBO’s financial position as at end of February 2018, in addition to examining the reports related to the performance of CBO’s external investments. The Board endorsed the audited accounts of Central Bank of Oman as well as the audited accounts of the Deposits Insurance Fund and The Pension Scheme of the Central Bank of Oman as at 31st December 2017. The Board also reviewed the management letter of the external auditors.<br></p>
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