CBO holds Annual Bankers Meeting

MUSCAT: The Annual Bankers Meeting was held on Tuesday, May 8, 2018 under the chairmanship of Tahir bin Salim al Amri, Executive President of the Central Bank of Oman and the attendance of CEOS and higher management officials of banks operating in the Sultanate of Oman.

The meeting was organised by the Central Bank of Oman (CBO) to highlight its pivotal role in organising, supervising, regulating and developing the monetary and financial system with focus on the banking sector.

The Annual Bankers’ Meeting also provided a platform to all the stakeholders of the banking sector for a constructive dialogue and collective discussions of economic conditions.

Moreover, it helped build and develop a mutually beneficial strong partnership between the CBO and the banking community for achieving the common goals so as to achieve continues growth and stability.

Today’s Meeting focused on some of the challenges facing the banking sector such as improving the asset quality of banks — particularly Restructured and Special Mention loans, accelerating credit flow to the SME sector, expanding financial inclusion, and leveraging fin-tech for increasing the efficiency of the banking sector.

The discussions also covered main elements of defensive lines in the banks such as Internal Controls, Risk Management framework, compliance, Internal Audit and External Audit.