Central Bank of Oman Issues CDs Worth RO326 Mln

By Administrator On Jun 9, 2012

Central Bank of Oman (CBO) has offered certificates of deposit no. 771 worth RO326 million last week.

A bulletin issued by the CBO stated that the average interest rate of these certificates was 0.07 per cent, while the maximum accepted interest rate was 0.08 per cent. The tenor of these certificates is 28 days. The maturity date is July 4.

The certificates of deposit issued to licensed banks by the CBO as a monetary policy instrument aimed at absorbing excess liquidity at the banking sector in particular and maintaining stability of the interest rate and the money market in general. The repo rate from June 6 to 12 is 1 per cent, Oman News Agency reported.