Central Bank of Oman chief dismisses speculations on rial devaluation
(MENAFN- Muscat Daily) Hamoud bin Sangour al Zadjali executive president of the Central bank of Oman (CBO) on Monday dismissed speculations about devaluation of Omani rial due to declining oil prices.
He said this while presiding over a meeting of chief executive officers and general managers of banks at the central bank's headquarters. He affirmed that the fundamentals of Omani Economy are strong and it can face any potential difficulties.
He said that the meeting is being held as part of existing cooperation among banks financial institutions and CBO. He also affirmed that all are working together to find solutions to challenges and issues facing the banking sector.
Zadjali said that the meeting is an ideal opportunity for senior managers and policymakers to exchange views.
Commenting on the performance of Islamic banking he said that the assets of these banks grew by 67 per cent from RO808mn in 2013 to RO1.35bn in 2014. Deposits also increased by 305 per cent from RO170mn in 2013 to RO688mn in 2014.
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