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MUSCAT: The Board of Governors of the Central Financial institution of Oman, on Monday, June 20, held its second assembly for this yr, throughout which it mentioned the place of reserves, the efficiency of the financial institution’s overseas investments, and the prospects and challenges of monetary stability.
Initially of the assembly, the Board welcomed the ultimate assertion of the go to of the Worldwide Financial Fund mission, which got here inside the framework of preparations for Article IV consultations for 2022.
The assertion counseled the efforts made by the Authorities of the Sultanate of Oman to mitigate the consequences of the COVID-19 pandemic and promote restoration, along with the monetary measures geared toward social assist in addition to serving to the non-public sector recuperate from the pandemic.
The Board counseled the banking system for overcoming the results of the pandemic comparatively effectively, with the assist of capital and liquidity. The Council additionally applauded the efforts taken by the Central Financial institution of Oman in strengthening the regulatory and supervisory frameworks.
It additionally pressured the significance of initiatives taken to enhance the monetary and financial state of affairs of the Sultanate of Oman.
After that, the Board reviewed the quarterly report of the Oman Middle for Credit score and Monetary Data and the report on the monetary well being indicators for banks.
Quite a few purposes associated to acquiring a license for the companies of digital fee operators have been additionally mentioned, along with plenty of matters on the agenda, and the Board took applicable choices relating to them.
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