CBO also advised banks to develop appropriate savings deposit schemes and fine-tune their fund management strategies to “ensure payment of reasonable rates of interests or profit to depositors without raising the lending rates.”
Banking & Finance
CBO Issues Circular To Oman Banks, Withdraws ‘Prize Scheme Linked Saving Deposit’

Muscat: The Central Bank of Oman (CBO) has directed all banks operating in the country to withdraw the ‘Prize Scheme Linked Saving Deposit Schemes’ from January 2022.
In a circular issued on Thursday, the apex bank said the decision has been taken “in the overall interests of the banking system and ensure enhanced effectiveness of the monetary policies.”
-
OER Magazines2 months ago
OER, April 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines4 weeks ago
Al-Iktisaad, May 25
-
Banking & Finance2 months ago
How is National Bank of Oman Working Towards Creating a Robust Fintech Ecosystem?
-
OER Magazines4 weeks ago
OER, May 2025