CBO to increase its capital from RO760mn to RO1bn

Muscat - 

The board of governors of the Central Bank of Oman (CBO) approved to increase the central bank’s capital from RO760mn to RO1bn, effective from April 1, 2017. The decision was taken in CBO’s first board meeting of this year on Monday.

The meeting was chaired by H E Dr Ali bin Mohammed bin Moosa, deputy chairman of the CBO’s board of governors, according to a press statement issued by the CBO.

The board reviewed various issues on the agenda of its meeting, including the economic and financial report up to December 31, 2016, as well as the activity report of CBO’s departments during the period under review.

The CBO board also reviewed the actions taken by the central bank and licensed banks operating in Oman with regards to the financing of small and medium enterprises (SMEs).

In addition, the board endorsed the audited accounts of CBO, deposit insurance fund and pension scheme of CBO as at December 31, 2016. The board also reviewed the management letter report of external auditors and annual report of the CBO’s internal audit committee.

The board further reviewed the CBO’s financial position as at the end of February 2017 and the performance of CBO’s external investments during the period under review. The board of governors also reviewed the financial and administrative matters of the CBO and took necessary decisions.

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