exhibition illuminates rich legacy of Oman’s monetary history

SALALAH, AUGUST 15

Under the auspices of Faisal bin Abdullah al Rawas, Chairman of the Oman Chamber of Commerce and Industry (OCCI), the 'Omani Coinage exhibition was inaugurated on Thursday, August 15, 2024, at the Land of Frankincense Museum in Dhofar Governorate.

The exhibition aims to highlight the history and evolution of Omani currency through the ages, focusing on the importance of understanding monetary history as part of Oman's cultural and economic identity.

The exhibition features a distinguished collection of coins documenting various stages of Omani monetary history, from ancient coins used in maritime trade to modern currency reflecting the country's economic progress. It provides visitors with an opportunity to explore the evolution of designs and symbols that adorned the coins through the ages, contributing to a deeper understanding of the country’s monetary history.

It is worth noting that this exhibition is not just a display of coins but a window into Oman's rich and diverse history, offering a chance for new generations to connect with their country's monetary heritage.

Oman has a rich history of currency trading due to its strategic location between the Middle East and India. Historically, it played a crucial commercial role in the Islamic world, with its ports facilitating the exchange of luxury goods. Early coins from Oman, including the dirham minted during the Umayyad Caliphate, reflect the country's long-standing involvement in trade and currency. By the 19th century, Oman used Indian rupees and Maria Theresa dollars, reflecting its trade links with the Indian subcontinent and East Africa.

The introduction of the Omani rial in 1970 marked a significant shift in the country's currency system. This new currency, which replaced the Gulf rupee, was part of a broader modernisation effort under the late Sultan Qaboos bin Said. It led to the establishment of the Central Bank of Oman in 1975, centralising currency issuance and monetary policy. The Omani rial continues to be the country's currency, symbolising Oman’s transition to a modern economic system.

In a statement, Haitham bin Ali Tabouk, Head of Public Relations and Media at the Heritage and Tourism Directorate in Dhofar Governorate, emphasised that this exhibition is a significant step in enhancing public understanding of the development of currency in Oman. He noted that coins are not merely a means of exchange but are symbols of the nation's history and culture. He added that ancient coins carry stories reflecting Omani identity and the political and economic developments the country has undergone.

The exhibition will continue until September 5, 2024, and visitors can explore it from Sunday to Thursday, from 9 am to 7 pm, and on Fridays and Saturdays from 3 pm to 7 pm. The organisers hope that the exhibition will raise awareness about the importance of coins as an integral part of the Sultanate of Oman's history and invite everyone to visit and benefit from this unique educational experience.