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CBO looks into key recommendations

24 December 2012
MUSCAT -- The Central Bank of Oman's Board of Governors yesterday elaborated on the separation of investment activities from banking activities. The Board also approved the proposed amendment of the annual fees for renewal licenses levied on banks, finance and leasing companies and exchange companies operating in Oman, as well as further discussion on Islamic banking in Oman.

Other recommendations reviewed included the report of the International Monetary Fund and the World Bank on the financial sector assessment programme. The CBO board reviewed the apex bank's financial position as at the end of November 2012 and the performance of the bank's external investments during the review period. The meeting was chaired by Dr Ali bin Mohammed bin Moosa, Deputy Chairman of CBO's Board of Governors.

A number of financial and administrative matters were reviewed at the meeting, including the Economic and Financial report as at September 30, 2012 and a progress report on the activities of the bank's departments during the period under review. The Board of Governors endorsed the CBO's 2013 budget, the apex bank's Pension Fund annual budget for 2013 and the Bank Deposit insurance Scheme annual budget for 2013.

© Oman Daily Observer 2012

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