CBO not to accept deposits of OMR1, 500 baisa and 100 baisa

Energy Saturday 28/March/2020 20:22 PM
By: Times News Service
CBO not to accept deposits of OMR1, 500 baisa and 100 baisa

Muscat: Central Bank of Oman (CBO) has decided to stop receipt of cash deposit of OMR0.100 to OMR1.000 (hundred baisa to one Omani rial) effective from Sunday (29 March) up to end of Eid Al Adha.
CBO also said that the Bank would not issue new currency of OMR0.100 and OMR1.000 for the upcoming Eid Al Fitr and Eid Al Adha.
CBO stated that the decision aimed to boost the use of cash and to lessen huge withdrawals of OMR5 to OMR50.
The decision also comes within the measures set by the Supreme Committee tasked with the mechanism to tackle the developments of COVID-19.