Central Bank of Oman meeting reviews several important issues

Business Tuesday 21/June/2016 14:20 PM
By: Times News Service
Central Bank of  Oman meeting reviews several important issues

Muscat: The economic and financial report up to March 31, 2016, as well as the activity report of CBO’s departments during the period under review and various other issues were on the agenda of the Central Bank of Oman’s (CBO) Board second meeting this year.
The meeting was chaired by Dr. Ali bin Mohammed bin Moosa, Deputy Chairman of CBO’s Board of Governors.
The board approved in the meeting the proposed amendments in the Articles of association of the College of Banking and Financial Studies (CBFS).
It also approved the application of alizz islamic bank to allow it to transfer the shares of Tasameem Real Estates LLC (UAE) in the Bank to the United International Representation of Companies LLC (UAE).
In addition, the Board also deliberated on the recommendations included in the Report of the International Monetary Fund (IMF) and World Bank mission on Financial Sector Assessment Programme (FSAP) and directed CBO’s executive management to follow up the implementation of the said recommendations as far as possible.
The Board also reviewed the actions taken by the Central Bank of Oman and licensed banks operating in Oman with regard to the financing of small and medium enterprises (SMEs).
Besides, the Board reviewed the CBO’s financial position as end of April 2016 and the performance of CBO’s external investments during the period under review.
The Board also reviewed the financial and administrative matters of CBO and has taken necessary decisions.