Central Bank of Oman to raise capital to OMR1b

Oman’s central bank has decided to raise its capital to OMR1 billion from OMR760 million with effect from April 1, 2017, according to a press release.

The decision was taken by the apex bank’s board on Monday at its meeting chaired by Dr Ali bin Mohammed Moosa, deputy chairman of the bank. 

The board also reviewed the actions taken by the Central Bank of Oman and licensed banks operating in Oman with regard to the financing of small and medium enterprises.

In addition, the board endorsed the audited accounts of Central Bank of Oman, Deposit Insurance Fund and Pension Scheme of Central Bank of Oman as at December 31, 2016. The board also reviewed the management letter report of external auditors and annual report of the CBO Internal Audit Committee.

The board also reviewed the CBO’s financial position as at the end of February 2017 and the performance of CBO’s external investments during the period under review.

The board reviewed the various issues on the agenda of its meeting, including the Economic and Financial report uptoDecember 31, 2016, as well as the activity report of CBO’s different departments during the period under review.

Source :Times Of Oman