Muscat: Oman’s central bank raised OMR17 million by way of allotting treasury bills on Tuesday.
The treasury bills are for a maturity period of 91 days, from September 30 until December 30, 2020.
The average accepted price reached 99.800 for every OMR100 while the minimum accepted price arrived at 99.800 per OMR100. The average discount rate and the average yield reached 0.80102 per cent and 0.80262 per cent, respectively.
Note that the interest rate on the Repo operations with CBO is 0.5 per cent"...

Muscat: Bank Muscat, the leading financial services provider in the Sultanate, and Haya Water (Oman Wastewater Services Company), has signed an agreement to on-board the utility’s operations to Bank Muscat’s B2B platform.
The new system will help the Government of Oman owned wastewater services utility digitise its payments by completely on-boarding the authority to the B2B platform with access to live support.
The bank’s B2B solution will seamlessly and securely integrate with Haya Water’s"...

In what is billed as an effort to bolster the creation of a transparent tax environment in the Sultanate, the newly amended Income Tax Law makes it mandatory for licensed banks to share any financial information sought by the Tax Authority about specific customers — a requirement designed to ensure that Oman meets its commitments under various international tax-related agreements it has signed up to.
The measure is one of a string of far-reaching changes to the Income Tax Law, which was amended vide Royal Decree"...

Muscat: Central Bank of Oman raised OMR10 million by way of allotting treasury bills on Tuesday.
The treasury bills are for a maturity period of 91 days, from September 23 until December 23, 2020.

The average accepted price reached 99.804 for every OMR100 while the minimum accepted price arrived at 99.800 per OMR100. The average discount rate and the average yield reached 0.78816 per cent and 0.78971 per cent, respectively. Note that the interest"...

Muscat: The Ministry of Finance has reaffirmed that the Sultanate concluded with success the issuance of local sovereign bonds to the tune of RO 200 million within the context of the Government’s plan to fund the State’s general budget for 2020.

The Ministry said in a statement today that the bonds were listed on Muscat Securities Market (MSM) and that they are available for trading, carrying an annual profit rate of 5.25% for a period"...

The Central Bank of Oman (CBO) has directed commercial banks, as well as finance and leasing companies (FLCs), operating in the Sultanate to begin scrupulously implementing the provisions of the Multilateral Competent Authority Agreement on the Exchange of Financial Information – an international convention that seeks to, among other things, combat offshore tax evasion.
A recent circular signed by CBO Executive President Tahir Salim al Amri has called on all banking and financial institutions to comply with the"...

The Central Bank of Oman (CBO) participated in the virtual meeting of the 44th regular session of the Council of Arab Central Banks and Monetary Authorities’ Governors. The meeting was organised by the Arab Monetary Fund (AMF).

The meeting was chaired from the sultanate’s side by H E Taher bin Salim al Amri, executive president of the CBO.

The Council discussed"...

MUSCAT, SEPT 14 – The total outstanding credit extended by other depository corporations (ODCs) — encompassing commercial banks and Islamic Windows — grew by 1.7 per cent to RO 26.2 billion at the end of July 2020, according to the Central Bank of Oman (CBO).
Credit to the private sector rose by 1.1 per cent to RO 22.8 billion, the apex bank stated in its monthly review of banking and monetary developments for July 2020.
Of the total credit to the private sector, the non-financial corporate sector"...

Muscat: The National Bank of Oman (NBO) on Monday signed with Outward Bound Oman a contract to train 900 Omani youths in line with Oman Vision 2040 goals.

The three-year contract provides that Outward Bound Oman, a non-profitable establishment, conducts training courses, in sets of four days, open for all Omani youth in all parts of the Sultanate under the banners of “(Shaping and Nurturing Next Generation” and “Applying Lifestyle"...

With a wave of fintech solutions challenging the legacy systems all over, the need to incorporate technology as an enabler to help enhance the customer experience, business profitability and the product portfolio in a secured environment, is a top priority for banks.

This will be the focus of the New Age Banking Summit 2020 to be held on October 6 at Hotel Sheraton,"...