CBO Not To Separate Banks' Investment Activities


News: On December 23 2013, the Central Bank of Oman (CBO) announced its decision to not separate the investment activities of commercial banks by establishing separate subsidiaries or affiliate firms. The decision was taken by the CBO's board, who met under the chairmanship of the CBO's Deputy Chairman Ali bin Mohammed bin Moosa. The board also took a decision of not giving licence for new money exchange firms by imposing a moratorium on new licences for two years till end 2015. The board further agreed to increase the CBO's capital to OMR700mn (US$1.81bn) from OMR500mn (US$1.29bn), effective April 1 2014.

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Geography: Oman

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