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Muscat: The Board of Governors of the Central Financial institution of Oman (CBO) convened its first assembly for the present yr (2023) at CBO’s Information Oasis constructing on Thursday.
The Board reviewed the financial and monetary developments within the Sultanate of Oman and the world basically, as studies and research concluded that the monetary place of CBO and the entities beneath its regulation and supervision remained unaffected by the latest international monetary repercussions. The Board nonetheless underlined the significance of steady follow-up of the newest developments on this respect, significantly these impacting the monetary and financial standing within the Sultanate of Oman.
The Board additionally authorized the CBO audited closing accounts as at December 31, 2022, the Banking Deposits Insurance coverage Scheme (BDIS), CBO workers’ Pension Scheme and Oman Credit score and Monetary Info Centre (Mala’a).
Throughout the assembly, the Board mentioned funding insurance policies associated to the administration of CBO reserves, and authorized suggestions of the examine on the event and enchancment of the regulatory necessities of finance and leasing corporations (FLCs).
The Board additionally reviewed studies on the monetary soundness indicators of banks, the outlook and particulars of monetary stability within the Omani financial system, the place of CBO reserves, efficiency of CBO’s international investments and a report on the initiatives of the supervisory and regulatory sector, along with the biannual report of the actions of the Excessive Sharia Supervisory Authority for the interval from July to December 2022.
Furthermore, the Board reviewed a number of matters associated to the primary operations and actions of CBO’s numerous departments within the present yr (2023), on which the Board made the suitable selections. — ONA
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