Thursday, March 28, 2024 | Ramadan 17, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

CBO okays ‘substitution of banking entities project’

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MUSCAT, DEC 17 - The Central Bank of Oman (CBO) has approved the substitution of banking entities project, which aims at providing further stability to the banking sector. The CBO’s board of governors took this decision at its fourth meeting of the year, held under the chairmanship of Sultan bin Salim bin al Habsi, deputy chairman of the board of governors.
The members reviewed the bank’s annual budget for the fiscal year 2019. At the beginning of the meeting, the board studied the CBO report on economic and financial developments in the Sultanate.
It also discussed the CBO report on the volume of funding extended by the banking sector to the small and medium enterprises (SMEs). It discussed reports pertaining to external investments of the bank.
The members highlighted the financial position as of November 30, 2018.
The board discussed the executive plan for the national payments systems law issued through the Royal Decree No 8/2018.



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