20 December 2016

The Central Bank of Oman’s board of governors held its fourth meeting of this year on Monday. The meeting was chaired by Dr Ali bin Mohammed bin Moosa, deputy chairman of the board.

The board approved the application of the Oman Investment & Finance Co (OIFC) to allow it to increase its shareholding in Bank Sohar from 15.13 per cent to 17 per cent, a CBO statement said on Monday. 

It also approved the application of Oman Post to allow it to commence remittance services.

The board reviewed the various issues on the agenda, including the economic and financial report up to September 30, 2016, as well as the activity report of the CBO’s departments.

In addition, it endorsed the central bank’s budget, the pension fund annual budget and Bank Deposit Insurance Scheme (BDIS) annual budgets for 2017.

The board also deliberated on the recommendations included in the report of the International Monetary Fund and World Bank mission on the Financial Sector Assessment Programme (FSAP) and directed the executive management to follow up the implementation of the said recommendations.

The board also reviewed actions with regard to the financing of small and medium enterprises, the statement added.

© Muscat Daily 2016