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Central Bank of Oman

The Central Bank of Oman was established during the early part of 1974. It was the inevitable of a process to steadily evolve the Omani economy. The bank was also set up with an aim to capitalize the country’s commendable economic prospects at that time.

Central Bank of Oman - Functions:
The functions of the CBO may be enlisted as below:
  • It is the depository agency on behalf of the Oman government.
  • It accepts two types of deposits from the commercial banks – a) deposits sanctioned by Board of Governors and required by the Banking of Law. b) Voluntary deposits that are used for profit making purposes.
  • It regulates the commercial banks, finance and leasing companies, and specialized banks. It regulates the money exchange houses as well.
  • It provides credit to the regional banks and invests through sale and purchase of financial instruments.
  • It gives advance payment to the national government in case there are shortfalls in the recurrent revenues.
  • It fixes rediscount and discount rates.

  • It also manages loans for the government.
  • For the member banks it provides clearing house services.
  • It manages the foreign assets to address currency related issues.
  • It supervises, issues, and maintains a stable rate of the national currency, manages international assets.
  • It takes deposits from Omani and international banks as well as financial and monetary institutions.
  • It advises the government in economic issues as well as general, financial and monetary matters.


Central Bank of Oman - Board of Directors:
The board of directors of the CBO comprises the following members:
  • H.E. Dr. Ali bin Mohammed bin Moosa – Deputy Chairman-CBO and Chairman – Tender Board
  • Hamood bin Sangour bin Hashim Al Zadjali - CBO Executive President
  • H.E. Sultan Bin Salim Bin Said Al Habsi - Under Secretary Ministry of Finance
  • Dr. Hatim bin Bakheet Al Shanfari
  • Mohsin bin Haidar bin Darwish


Central Bank of Oman - Services:
The services of Oman’s central bank can be mentioned as below:
  • Licensing a Money Exchange
  • Licensing a Bank

Central Bank of Oman - Investment:
The reserve bank of Oman offers the following investment options:
  • Development bonds
  • Certificates of Deposit - the tenders for the certificates of deposit are issued on Mondays, followed by the allotment on Tuesdays, and then issued to the successful banks on Wednesdays.
  • Treasury Bills - the treasury bills of the CBO have a maximum maturity period of one year. At present these debt financing securities are being sold for maturity periods of 91 days, 364 days, and 182 days.

Central Bank of Oman - Payment and Settlement Systems:
The payment and settlement systems operated by the apex banking institute of Oman can be mentioned as below:
  • Electronic fund transfer system
  • Real Time Gross Payment System (RTGS)
  • Automated Clearing House System (ACH)
  • Electronic Cheque Clearing System (ECC)

Central Bank of Oman - Financial Highlights:
As per the annual report for the fiscal year 2010:
  • Net Revenue = 7,916,500,000 Omani Rials
  • Profit = 70,000,000 Omani Rials
  • Total assets = 5,296,609,000 Omani Rials

Central Bank of Oman - Contact Details:
The contact details of Central Bank of Oman can be mentioned as below:
Central Bank of Oman
P.O. Box 1161,
Postal Code 112, Ruwi,
Sultanate of Oman
Phone: (+968) 24 777 777
Fax: (+968) 24788995
E-mail: CCR-Dept@cbo.gov.om

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Last Updated on : 30th July 2013

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