CBO Board of Governors convenes its first...

​The Board of Governors of the Central Bank of Oman convened its first meeting for this year on Wednesday 6^thMarch 2024, at CBO headquarters in Muttrah Commercial District.

In keeping with global developments in various modern products and services that would provide broader horizons for serving the financial sector customers in general, the Board approved during the meeting the special regulations for the "Buy Now, Pay Later" service. The Board also approved the guiding principles for the executive management of CBO to work on rules and regulations for the banking sector to provide innovative financing services and products to individuals up to the age of seventy years. Moreover, The Board approved the audited Financial Statements of CBO, the Banking Deposits Insurance Scheme (BDIS), and Oman Credit and Financial Information Center (Mala'a).

In addition, the Board reviewed a number of topics, namely the financial soundness indicators of banks for the period ending on 31^st December 2023, and the report on the financial position of CBO. The Board also discussed the outlook and challenges of stability in the Omani economy as well as the position of CBO reserves and performance of CBO's foreign investments.

Moreover, the Board took stock of the annual report of Oman Credit and Financial Information Center (Mala'a), along with the report on financing small and medium size enterprises (SMEs) for the period ending on 31 December 2023.

Finally, the Board reviewed a number of studies and topics listed on the agenda, on which the Board made the appropriate decisions.