CBO board holds third meeting of 2018

Muscat – The Central Bank of Oman’s (CBO) board of governors held its third meeting of the year on Sunday under the chairmanship of H E Sultan bin Salim bin Said al Habsi, deputy chairman of the board of governors. The meeting was held at the CBO headquarters.

According to a press release, 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 dis- cussed 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 endeavors aimed at the merger of a number of banks in the sul- tanate 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.

Furthermore, the board also reviewed the financial position of the CBO as of 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 for the academic year 2018-2019.