No.52/ No. 01
25-Dec.-2000/1 Jan. 2001
Central Bank of Oman Amends Banking Regulations
The Central Bank of Oman (CBO) announced on 16 December that it had amended its commercial banking law in an effort to promote economic growth. A statement from the bank said that commercial domestic banks are now required to hold a minimum capital of OR20mn ($52mn) compared to the previous OR10mn. Foreign banks are required to hold a minimum capital of OR3mn ($7.8mn). The...