News Column

Central Bank of Oman issued certificates of deposits worth Omani Rial 284m

July 12, 2014


Muscat: Certificates of deposit (CDs) tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted for issue No. 875 was OMR284 million.

The bulletin issued by the CBO stated that the average interest rate of these certificates was 0.13 per cent whilst the maximum accepted interest rate was 0.13 per cent. The tenor of these certificates is 28 days. The maturity date is August 6.

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 July 9 to 15 is 1 per cent.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Times of Oman

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters