Broad money supply in Oman grows by 12.7% to OMR28.6bn

Muscat: Broad money supply in the Sultanate of Oman witnessed a growth of 12.7 percent on an annual basis reaching OMR28.6 billion by the end of May 2026.

This increase came as a result of a rise in narrow money by 26.9 percent and a rise in quasi-money by 7.1 percent, which consists of the sum of savings and time deposits in Omani rials, plus certificates of deposit issued by banks, in addition to margin accounts and all foreign currency deposits in the banking sector.

The report issued by the Central Bank of Oman (CBO) indicated that cash held by the public increased by 12.1 percent, while demand deposits saw an increase of 29.8 percent.

Regarding the interest rate structure of conventional commercial banks, the weighted average interest rate on Omani Rial deposits decreased from 2.708 percent in May 2025 to 2.366 percent in May 2026, and the weighted average interest rate on Omani Rial loans decreased from 5.551 percent to 5.327 percent during the same period.

The average overnight inter-bank lending rate fell to 3.375 percent in May 2026, compared to 4.394 percent in May 2025, as a result of the weighted average interest rate on repurchase operations falling to 4.250 percent, compared to 5 percent during the same period last year, in line with the policies of the US Federal Reserve.