CBO BOARD OF GOVERNORS HOLDS MEETING

MUSCAT: The CBO Board of Governors held its third meeting of 2018 on Sunday under the chairmanship of Sultan bin Salim al Habsi, Deputy Chairman of the CBO Board of Governors. The meeting was held at the CBO Headquarters in MBD area, Muttrah.

At the beginning of the meeting, the Board reviewed the subjects on the agenda. It then studied the CBO Report on the economic and financial developments in the Sultanate.

The Board also discussed the CBO report on the volume of funding extended by the banking sector in the Sultanate to the small and medium enterprises.

The Board approved the proposed executive plan for the establishment of a National Bureau for Credit and Financial Information by studying the procedures taken up by the CBO for the establishment of the bureau.

The Board also welcomed in principle, the procedures and endeavours aimed at the merger of a number of banks in the Sultanate with the view of forming large banking entities that can be more competitive and capable of meeting the evolving challenges and changes in the banking sector.

The Board also reviewed the financial position of the CBO as on August 31, 2018 in addition to examining the reports on the performance of CBO’S external investments.

The Board also approved the annual budget of the College of Banking and Financial Studies (CBFS) for the academic year 20182019, as well as discussing several other issues that were brought to its notice and took appropriate decisions accordingly. — ONA