Latest news with #CentralBankofOman
Zawya
a day ago
- Business
- Zawya
Central Bank of Oman to host the 17th IFSB Summit in Muscat, February 2026
KUALA LUMPUR/MUSCAT – The Islamic Financial Services Board (IFSB) is pleased to announce that the 17th IFSB Summit will be hosted by the Central Bank of Oman (CBO) from 2nd to 4th February 2026 in Muscat, Sultanate of Oman. Under the theme ' Islamic Finance for the Future: Breaking New Ground for Global Impact', the summit brings together central banks, financial regulatory authorities, international organisations and industry leaders to explore the evolving importance of Islamic finance in shaping a stable and ethical global financial system. Discussions will focus on critical areas of Islamic finance, including navigating disruptions, strengthening the non-bank financial sector, enhancing the Sukuk market, and addressing financial inclusion, social impact and climate action. IFSB Secretary-General, Dr Ghiath Shabsigh shares the significance of the summit, 'The IFSB Summit continues to serve as a strategic forum for exchanging ideas on emerging developments in Islamic finance and advancing its global mainstream adoption. It reflects our commitment to the soundness and stability of the industry by convening regulatory and supervisory authorities, international bodies, and market participants to discuss pertinent industry matters. Aligned with the theme 'Islamic Finance for the Future: Breaking New Ground for Impact', we look forward to working with the Central Bank of Oman to bring the 17th IFSB Summit to Oman in 2026 – unlocking the growth and development opportunities of the industry together.' H.E. Ahmed Al Musalmi, Governor of the Central Bank of Oman, noted, 'We look forward to hosting the IFSB Summit in Muscat next year. We view this gathering as a strategic inflection point—a catalyst to deepen our understanding of the shifting global economic landscape. This summit offers a unique opportunity to foster visionary dialogue, spark innovative collaborations, and reinforce the resilience of the Islamic financial industry amid ongoing uncertainties. Our sector has consistently demonstrated its robustness and adaptability, and this occasion will serve to chart a sustainable and inclusive growth trajectory. We are confident that the insights generated will not only strengthen our industry's foundations but also elevate its role as a key driver of economic stability and development in the years ahead.' Extending the exposure on Islamic finance, the pre-summit day on February 2nd will be open to the public. It will introduce key industry discussions including a CEO's Forum and dedicated roundtables with non-governmental organisations and youth. Attendees can also explore curated exhibitions from Islamic financial industry players and a showcase of Oman's rich heritage and culture. The IFSB invites financial sector stakeholders, regulators, and industry leaders to participate in shaping the future of Islamic finance. Details on registration for delegations, agenda, and speakers will be made available on the IFSB website, About the Islamic Financial Services Board (IFSB) The Islamic Financial Services Board (IFSB) is an international organisation committed to promoting the soundness and stability of the Islamic financial services industry (IFSI) by developing international standards for the regulation and supervision of the IFSI, supporting the adoption and consistent implementation of standards and sound industry development through capacity building and technical assistance, and monitoring financial stability and identifying current and emerging risks to the IFSI. Established in 2003 and headquartered in Kuala Lumpur, Malaysia, the IFSB works closely with other international organisations, regulatory and supervisory authorities, and regional partners, aligning its efforts with global standards towards the sustainable growth and development of Islamic finance, and serves as a platform for cooperation and knowledge sharing among its members. For more information about the IFSB, please visit
Zawya
2 days ago
- Business
- Zawya
Oman's central bank issues treasury bills worth $57mln
Muscat: Oman's central bank raised OMR22 million by way of allotting treasury bills on Monday. The value of the treasury bills are for a maturity period of 91 days. The average accepted price reached OMR98.933 for every OMR100, and the minimum accepted price arrived at OMR98.930 per OMR100. The average discount rate and the average yield reached 4.27900% and 4.32514%, respectively. Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides theadded advantage of ready liquidity through discounting and repurchase facilities (Repo). It may be noted that the interest rate on the Repo operations with CBO is 5.00% while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.50%. Furthermore, Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may also resort to this instrument whenever felt necessary for financing its recurrent expenditures. © Muscat Media Group Provided by SyndiGate Media Inc. (
Zawya
15-07-2025
- Business
- Zawya
Central Bank of Oman issues treasury bills worth over $26mln
Muscat: The Central Bank of Oman (CBO) announced Monday that the total value of government treasury bills allocated this week amounted to OMR 10.25 million. The bank explained in a statement today that these bills are allocated for a maturity period of 91 days, with an average accepted price of OMR 98.941, and a minimum accepted price of OMR 98.930 per OMR 100. The average discount rate was 4.24871 percent, and the average return was 4.29421 percent. The statement indicated that the interest rate on repurchase operations with the CBO on these bills is 5 percent, while the discount rate on the CBO treasury bill facility is 5.50 percent. Treasury bills are a short-term, secured financial instrument issued by the Ministry of Finance to provide investment opportunities for licensed commercial banks. The CBO acts as the issue manager for these bills. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Observer
05-07-2025
- Business
- Observer
Bank lending in Oman rises 8% in May
MUSCAT: Credit extended by the Omani banking sector grew by 8 per cent by the end of May 2025, reaching a total of RO 33.6 billion, according to new data from the Central Bank of Oman (CBO). Private sector lending rose by 6.8 per cent to RO 27.9 billion. Of this, the non-financial corporate sector held the largest share at 46.4 per cent, followed by the individual sector at 44.2 per cent. The financial corporate sector accounted for 5.7 per cent, with the remaining 3.7 per cent distributed across other segments. Meanwhile, total deposits in the banking sector climbed 7.9 per cent year-on-year to RO 32.3 billion. Private sector deposits also recorded growth, increasing by 7.4 per cent to RO 21.9 billion. Within this, individuals made up the largest portion at 49.5 per cent, followed by the non-financial and financial corporate sectors at 30.7 per cent and 17.5 per cent, respectively. The remaining 2.3 per cent came from other sectors. — ONA
Zawya
03-07-2025
- Business
- Zawya
Strengthening Cybersecurity: BankDhofar's ongoing commitment to customer protection
MUSCAT: From the earliest stages of its digital transformation journey, BankDhofar has prioritized the implementation of robust cybersecurity frameworks. Through advanced systems, strict policies, and comprehensive procedures, the bank continues to safeguard its digital infrastructure against cyberattacks. This strategic focus not only ensures safe, seamless, and reliable services for customers but also aligns with Oman's broader objective of building a resilient digital economy as envisioned in Oman Vision 2040. BankDhofar remains a pioneer in the digital evolution of the banking and financial sector in Oman, consistently investing in cutting-edge technologies and secure banking systems to protect customer transactions. One of its notable security enhancements is the deployment of the 3D Secure protocol, which adds an extra layer of verification for online card transactions to reduce fraud. The bank also ensures full compliance with regulatory standards and directives set by the Central Bank of Oman. Among the latest frameworks is the Cybersecurity Regulatory Framework introduced in 2023. This directive outlines requirements for all banks and financial institutions in Oman to maintain robust cybersecurity governance. It addresses critical areas including risk management, technology and operations, compliance, audit, and third-party vendor oversight—ensuring institutions can respond dynamically to evolving cyber threats. BankDhofar views cybersecurity as a shared responsibility. While the bank continuously fortifies its defenses, it also encourages customers to stay alert and informed. Digital threats continue to grow in sophistication, making it vital for customers to adopt secure practices, such as avoiding suspicious links and never disclosing personal or financial information to unverified sources. In line with this, the bank actively conducts awareness campaigns via its website and social media platforms, educating the public on common electronic fraud tactics—such as phishing calls or emails that aim to steal sensitive information including civil ID numbers, card details, or login credentials. BankDhofar urges all customers to exercise caution and refrain from sharing confidential information. In case of doubt or suspicious communication, customers are encouraged to immediately contact the bank's 24/7 call center or report the incident to the Royal Oman Police. The bank also recommends several essential security practices: regularly changing PINs and passwords, installing trusted antivirus software, updating the mobile banking app through official app stores, and using biometric features like fingerprint or facial recognition for app access. Additionally, customers should avoid using public networks for financial transactions and remain cautious when using ATMs, cash deposit machines, or interactive banking kiosks. Through proactive investment in technology and public education, BankDhofar reaffirms its dedication to creating a secure digital banking environment for all.
