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FinancialNews
10-09-18
Oman's central bank regulatory amendments enable banks to extend credit
(MENAFN) Banks in Oman can now extend credit for motivating economic activities after the Central Bank of Oman (CBO) introduced the regulatory amendments.
The combined balance sheet of conventional and Islamic banks and windows were unveiled to be showing a 6.1 percent boost in the overall credit of which other depository corporations extended, reaching RO24.3 billion by the end of June.
Bank credit extended to the private sector was also found to have recorded a 5.1 percent increase, standing at RO21.7 billion during the same period.
Non-financial corporate also registered a 45.8 percent surge of total lending, followed by household sector at a 45.5 percent jump, financial cooperation at 4.9 percent and other sectors at 3.8 percent.
MENAFN1009201800450000ID1097409590
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