According to ONA: The Central Bank of Oman's (CBO) Board of Governors today held its fourth meeting of this year 2013. The meeting was chaired by Dr. Ali bin Mohammed bin Moosa , Deputy Chairman of the CBO's Board of Governors . The Board reviewed the various issues on the agenda of its meeting, including the Economic and Financial report up to September 30th, 2013 , as well as the activity report of the CBO's Departments during the period under review. The Board has endorsed the CBO's budget for 2014, CBO's Pension Fund annual budget for 2014 and the Bank Deposit Insurance Scheme (BDIS) annual budget for 2014. In addition, the Board decided not to separate the investment activities from the banking activities and establish affiliated companies for this purpose by commercial Banks and to continue on the position as it is now. Because of the saturation of domestic market, the Board decided not to allow now the establishment of the new Money Exchange Companies in Oman and to impose moratorium on new licenses for a period of two years until end of 2015. Besides, the Board approved to increase the CBO's Capital from RO 500 million to RO 700 million effective from April 1st, 2014 . The Board also approved, in principle, the National Payment System Law. The Board has deliberated the recommendations included in the report of the mission of International Monetary Fund (IMF) & World Bank on Financial Sector Assessment Program (FSAP) and directed the CBO's Executive Management to follow-up the implementation of the said recommendations as per the available potentials. The Board also reviewed the CBO's financial position as at the end of November 2013 and the performance of the CBO's external investments during the period under review. The Board has reviewed the financial and administrative matters of CBO and has taken necessary decisions.
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