The meeting was attended by chief executives and senior management officials of banks operating in Oman, according to a press release issued by the CBO.
The meeting was organised by the CBO to highlight its pivotal role in organising, supervising, regulating and developing the monetary and financial system with focus on the banking sector.
Tuesday’s meeting focused on some of the challenges facing the banking sector such as improving the asset quality of banks – particularly restructured and special mention loans, accelerating credit flow to the SME sector, expanding financial inclusion, and leveraging financial technologies (fintech) for increasing the efficiency of banking sector.
The Annual Bankers’ Meeting also provided a platform to all the stakeholders of the banking sector for a constructive dialogue and collective discussions about the economic conditions. Moreover, it helped build and develop a mutually beneficial strong partnership between the CBO and the banking community for achieving the common goals so as to achieve continues growth and stability.
The discussions also covered main elements of defensive lines in the banks such as internal controls, risk management framework, compliance, internal audit and external audit.