He said there are no intentions to change the interest cap on personal loans by the local banks and added that the policies adopted by CBO take into consideration the future outlook by focusing on putting in place the stability fundamental that ensures having an efficient banking sector and a stable monetary policy.
He pointed out that the CBO currently considers the legislative and organizational aspects related to availing financial tools to manage the liquidity conditions at the Islamic banking. He affirmed that new short term Islamic banking financial tools will be availed soon as it is the case with the financial tools available for the traditional commercial banks.
He pointed out that CBO constantly follows the liquidity, credit and saving conditions and trends to ensure that they are channeled at the right direction that serves the efforts made by the government to ensure more progress in the comprehensive development process witnessed by the Sultanate.
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