VOL.XLIII/XLIV

No.52/ No. 01

25-Dec.-2000/1 Jan. 2001

REGIONAL BANKING

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...