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Central Bank of Oman |
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Central Bank of Oman
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The Central
Bank of Oman (CBO) was established in December 1974 and began operations on
1 April 1975. It replaced the Oman Currency Board as the principal currency
authority in Oman. The Central Bank of Oman is responsible for maintaining
the stability of the national currency the Omani Rial and ensuring monetary
and financial stability in a deregulated and open financial system. |
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The CBO is
responsible for maintaining the internal and external value of the national
currency. It is also the single integrated regulator of Oman's financial
services industry. It is committed to excellence in providing monetary and
financial stability and fostering sound and progressive financial sector to
achieve sustained economic growth for the benefit of the nation.
The CBO also has an early warning system for commercial banks that enables
it to predict possible financial crises and take preventive action when
necessary. The various monetary policy instruments under the CBO's command
could be broadly categorized into indirect measures and direct measures. |
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Indirect
policy (market oriented) measures include open market operations involving
the buying and selling of securities, issuance of Central Bank's own
securities, swaps etc. CD auctions are the main open market type operations
conducted by CBO to absorb Omani Rial liquidity and banks can repossess
these CDs to acquire liquidity both in the inter-bank market as well as the
CBO. Direct monetary policy instruments used by the CBO are mainly in the
form of reserve requirements and lending ratios.
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Central Bank of Oman |
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HQ
Address: |
P.O. Box 1161
Postal Code 112,Ruwi
Sultanate of Oman |
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Tel: |
+968 24 777 777 |
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Fax: |
+968 24
788 995 |
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Website: |
www.cbo.gov.om |
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Swift Code: |
CBOMOMRU |
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Currency: |
Omani Rial |
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Banking Hours: Sat - Wed : 8.00am - 2.00pm |
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The CBO also administers and participates in the financing of a Bank deposit
insurance system, which provides the commercial banks with a high level of
security for deposits, while cushioning the effects of any unforeseen
circumstances.
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List of banks governed by the
Central Bank of Oman |
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» Bank Dhofar |
» Oman Arab Bank |
» Bank Sohar |
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» Bank Muscat |
» Oman International Bank |
» Ahli Bank |
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» National Bank of Oman |
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