MUSCAT: The Board of Governors of the Central Bank of Oman, on Monday, June 20, held its second meeting for this year, during which it discussed the position of reserves, the performance of the bank’s foreign investments, and the prospects and challenges of financial stability.
At the beginning of the meeting, the Board welcomed the final statement of the visit of the International Monetary Fund mission, which came within the framework of preparations for Article IV consultations for 2022.
The statement commended the efforts made by the Government of the Sultanate of Oman to mitigate the effects of the COVID-19 pandemic and promote recovery, in addition to the financial measures aimed at social support as well as helping the private sector recover from the pandemic.
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The Board commended the banking system for overcoming the consequences of the pandemic relatively well, with the support of capital and liquidity. The Council also applauded the efforts taken by the Central Bank of Oman in strengthening the regulatory and supervisory frameworks.
It also stressed the importance of initiatives taken to improve the financial and economic situation of the Sultanate of Oman.
After that, the Board reviewed the quarterly report of the Oman Center for Credit and Financial Information and the report on the financial health indicators for banks.
A number of applications related to obtaining a license for the services of electronic payment operators were also discussed, in addition to a number of topics on the agenda, and the Board took appropriate decisions regarding them.
