Oman hikes minimum capital limits for banks

MUSCAT—The Central Bank of Oman (CBO) has hiked the minimum capital of Omani commercial banks to RO50 million from the present RO20 million. For branches of foreign banks, the new capital limit is set at RO10 million.

By From Our Correspondent

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Tue 27 Dec 2005, 9:37 AM

Last updated: Thu 2 Apr 2015, 4:21 PM

Banks have been given a period of three years to abide by the new stipulation. The decision was taken at a meeting of CBO's board of governors here on Sunday presided over by Dr Ali bin Mohammed bin Moosa, Health Minister and deputy chairman of the bank, which reviewed a report on the performance of commercial banks in the country this year. The board rejected an application to establish a new local commercial bank, noting that the decision was in line "with the Sultanate's policy to encourage mergers among commercial banks."

More news from
Nurturing resilience


Nurturing resilience

In an era marked by the increasing frequency and intensity of extreme weather events, the global community faces a daunting challenge: safeguarding food systems from the ravages of climate change.