The Central Bank of Oman’s Board of Governors in its Second meeting of this year on October reviewed the report on the Sultanate’s financial and economic position in the light of local and international developments and continued decline in oil prices. The Board also reviewed the recommendation included in the report of the International Monetary Fund and World Bank mission on Financial Sector Assessment Program (FSAP) and directed CBO executive management to follow up the implementation of the recommendations as far as possible.
The Board of Governors also reiterated its commitment to the current exchange rate regime whereby the Rial Omani is pegged to the US dollar and this is due to the realized benefits to the Omani economy in terms of price stability, promoting economic growth as well as foreign direct investment in addition to stable interaction with the global economy.
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