MUSCAT : The Central Bank of Oman (CBO) on Saturday denied figures circulating on local and international media platforms regarding the volume of cash transactions in the Sultanate, calling the information “misleading and inaccurate.”
In a public advisory, the CBO said the numbers being shared do not reflect the official data collected from the banking system. According to the bank’s figures for the end of 2024, digital channels accounted for 87% of all executed transactions, while cash transactions represented no more than 13%.
The regulator said it is working closely with government entities to expand the availability of electronic payment services across all commercial sectors. This includes directives aimed at reducing cash usage in specific industries such as money exchange houses and remittance providers.
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The CBO added that the push toward electronic payments forms part of a wider commitment to modernising financial services, improving efficiency and supporting the country’s transition to a more digitised economy.
The bank urged the public, media outlets and analysts to refer only to verified official sources when sharing or interpreting information about Oman’s banking and financial sector.
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