MUSCAT: The Central Bank of Oman (CBO) on Thursday signed a Memorandum of Understanding (MoU) with the Qatar Financial Centre Regulatory Authority (QFCRA) within the framework of CBO’s efforts to strengthen its banking relations with various financial institutions, exchange experiences and establish strong cooperation relationships in the fields of banking supervision.
The memorandum was signed by Dr Tahir bin Salim bin Abdullah al Amri, CBO Executive President, and Michael Ryan, CEO of QFCRA.
The terms of the MoU include enhancing bilateral relations and exchanging information and experiences related to the de-velopment of financial and banking work, developing the professional cadres and achieving convergence towards the common means and standards in the fields of banking supervision and financial stability and benefiting from expertise in these fields.
The memorandum includes the establishment of a working relationship between the two parties, enhancing bilateral relations, bringing together the mutual methods and standards of supervision and regulation, and regulating the various banking services across borders. — ONA
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