Middle East Economic Survey
Oman Central Bank Raises Banks Minimum Capital
Omans central bank on 25 December raised the minimum capital of Omani banks to OR50mn ($129.9mn) from OR20mn ($51.9mn), and doubled that of foreign bank branches to OR10mn ($26mn). The banks board said the increase in paid up capital should be carried out within three years, according to the Oman News Agency. The board also rejected an application to establish a new commercial bank, in...