Muscat: Commemorating the glorious occasion of the 49th National Day, Central Bank of Oman (CBO) has announced the launch of its upgraded Mobile Payment Clearing & Settlement System (MPCSS) on November 18.

In line with CBO’s vision to promote e-payments in the country, the MPCSS platform has been upgraded to enable additional functionality in the mobile payments space.

The MPCSS platform enables seamless interoperability between various mobile banking/wallet systems operated by banks and"...

MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, in step with its vision ‘To serve you better, everyday’ and commitment to encouraging a savings culture in Oman, hosted Premier Banking customers of the bank to a dinner at the picturesque Al Sunaisla Fort in Sur. The event also celebrated the monthly al Mazyona draw where 10 lucky Asalah Priority banking customers won RO 20,000 each and 10 al Jawhar Privilege banking customers won RO 10,000 each. Fifteen regional winners from South"...

Licensed banks in the Sultanate are prohibited from offering any prizes, gifts or other such inducements to entice customers into buying their personal loans or other financing products, according to the Central Bank of Oman (CBO).
The warning came in a Master Circular issued by the apex bank last week, revising the guidelines regulating promotional campaigns, competitions, merchant discount schemes and loyalty programmes of banks.
In essence, the circular dispenses with the long-standing requirement for licensed"...

Muscat: Bank Muscat, the flagship financial services provider in the Sultanate and Al Ramooz Group have signed an agreement to on-board the group to Bank Muscat’s Corporate Internet Banking platform.

The agreement was signed by Tariq Atiq, DGM - Transaction & Public Sector Banking, Bank Muscat and Fahad Saleh Al Sahib, General Manager, Al Ramooz Group, recently and comes as part of the bank’s initiative to on-board more corporates to the digital solutions and services provided by the bank....

MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, in line with its vision ‘To serve you better, everyday’ celebrated the latest draw of the al Mazyona salary prize scheme at the Sohar Hospital. The draw was held in the presence of Dr Majid al Muqbali, Director of Sohar Hospital and Abdul Rahman bin Abdullah al Shezawi, Regional Manager – Al Batinah North, Bank Muscat. A total of 20 lucky customers were rewarded in the draw and each winner will receive a fixed salary prize of"...

Marking an exciting milestone on its digital leadership journey, National Bank of Oman (NBO) has launched an interactive robot, the first of its kind in the Sultanate’s banking industry. The intelligent humanoid robot will perform a range of functions including greeting and recognising customers, assisting them in using the services of the bank, and providing answers to queries, it is set to showcase the bank’s forward-thinking approach, complementing its expanding digital portfolio.
“Innovation has"...

Muscat: Oman’s central bank raised OMR26.5 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 91 days, from Wednesday until February 12, 2020.

The average accepted price reached 99.528 for every OMR100, and the minimum accepted price arrived at 99.525 per OMR100. Whereas the average discount rate and the average yield reached 1.89273 per cent and 1.90171 per cent, respectively.

The interest rate on the Repo operations with CBO is 2.263 per"...

Muscat, Nov 11 – As technology progresses at an ever increasing pace, fraudsters across the globe are constantly finding new ways to exploit people for financial gain, especially by scamming people out of their hard-earned money. Such cybercrimes often cause enormous financial and material losses for the victims as well as the economy. The Royal Oman Police (ROP) and Bank Muscat recently launched an anti-fraud public awareness campaign in the Sultanate to tackle instances of cyber fraud.

Amjad"...

Muscat: The Board of Directors of the Oman Development Bank (ODB) has adopted an ambitious development finance plan to support the targeted sectors and economic diversification as mentioned in the five-year plan.

This is part of the efforts to boost investment in product and service sectors of the economy and to keep pace with the plans of the government for diversification and support of the non-oil sectors. In its sixth meeting held last week under the chairmanship of Salim Musallam Al Busaidi, the Board of"...

MUSCAT, NOV 10 – Household indebtedness in comparison with non-oil GDP has risen in years in the Sultanate, fuelled by an uptrend in personal loans extended by commercial banks, according to the Central Bank of Oman (CBO). The apex bank however noted that the concentration of bank credit in the personal loan category did not pose a significant risk in terms of the credit exposure of banks, given that the segment continues to perform well.
“Credit remained concentrated in the personal loan segment, in which"...