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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

CBO gives nod for e-payment services

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MUSCAT: The Board of Governors of the Central Bank of Oman (CBO) held its third meeting for this year, on Monday.


The board discussed the most important economic, financial and fiscal developments in the Sultanate of Oman in 2022, and reviewed the financial data safety report of the banking sector, performance indicators through the banking oversight and supervision reports as well as some suggestions and studies that would enhance the efficiency of the CBO’s fiscal policies.


The board also reviewed the financial position at the CBO and some reports submitted by the executive administration regarding financial stability, the situation of reserves and the performance of CBO’s international investments.


The board approved applications for provision of e-payment services for Amwal Pay and Om Pay companies who met all the procedures and requirements for obtaining the licence. The step stems from the CBO’s keenness in supporting and encouraging technological and electronic services and complementing some successful examples of the institutions that undertook the experience of the oversight experimental structure in line with the global fintech developments. — ONA


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