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.”
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