The Central Bank of Oman reported that its Board of Directors held its second meeting of the year and approved the CBO’s closing accounts, as well as the 2024 accounts for the Banking Deposits Protection Scheme and the Oman Credit and Financial Information Center (Mala'a). Discussion also covered global and regional developments and their potential implications for Oman. The Board reviewed banks’ financial soundness indicators, the position of reserves and the performance of the CBO’s foreign investments, alongside reports on financial stability prospects and challenges in Q4 2024, newly licensed banks, SME data to 31 December 2024, Omanization and succession planning in the banking sector, and the Omani Economic and Financial Experts Program. It additionally considered the 2024 annual report on financial technologies, the Mala'a annual report, and the Supreme Sharia Supervisory Board’s semi-annual activity report for July to December 2024, and took decisions on other agenda items.
Central Bank of Oman 2025-04-13
Central Bank of Oman Board approves 2024 closing accounts and reviews banking soundness, financial stability, fintech and Sharia oversight reports
The Central Bank of Oman’s Board approved the 2024 closing accounts for the CBO, the Banking Deposits Protection Scheme, and the Oman Credit and Financial Information Center. The meeting reviewed global and regional developments, banks’ financial soundness, foreign investments, and financial stability prospects. Discussions included SME data, Omanization, succession planning, and reports on financial technologies and Sharia compliance.