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Central Bank of Oman to gradually allow them to start Islamic window, after the newly-formed Islamic banks settle down in the country. "Once the market stablises, the Central Bank of Oman will consider licencing non-banking finance companies to enter
The Central Bank of Oman (CBO) yesterday announced issue of Government Development Bonds (GDB). The size of the new issue is fixed at OMR100 million with a maturity period of four years and will carry a coupon rate of 2.75 per cent per annum,
Indian expatriates in Oman, like in other GCC countries, have started taking personal loans for arranging funds to take advantage of a record fall in the rupee value against Omani rial. Money exchanges and bankers in Muscat admit that Non-Resident
The Sultanate's construction sector is expected to grow by 8.4 per cent to OMR1.7 billion, according to a research report released by Business Monitor International. The BMI in its report estimated a real growth of 11.9 per cent year-on-year for 2012,
The Shari'a Supervisory Board of Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, conducted its third meeting of 2013 in Jeddah, Saudi Arabia under the chairmanship of Sheikh Dr Ali Qaradaghi, and in the presence of members Sheikh
The total value of private deposits at the commercial banks in the Sultanate, as of the end of May 2013, rose by 9.5 per cent to OMR9.33 billion compared to OMR8.52 billion in the corresponding period in 2012. The monthly statistical bulletin
47 pm Muscat : At the end of May 2013, broad money (M2) when measured on a year-on-year basis had increased by 9.4 per cent to OMR11.26 billion, compared to 10.29 billion same time last year. Narrow money stock (M1), comprising currency held by the
in the country increased by 9.6 per cent to OMR11.6 billion by end-June 2013, from OMR10.64 billion for the same period of last year...However, the credit growth on a quarter-on-quarter basis was around three per cent for March-June period of 2013. "
The Omani economy has continued to pick up with support from high oil prices and expansionary fiscal policies. Gross domestic product (GDP) at current prices increased in double digits by 11.6 per cent in 2012, with inflation well under control at 2.
BankDhofar is moving closer to its vision of being the best bank in the Gulf, as well as the best bank for its customers. The bank recently won the prestigious "Best Retail Bank Oman 2013" award at the Global Banking and Finance Review Awards 2013.