News Column

CBO Certificates of Deposit Tender Results

August 16, 2014

Muscat, Aug 16 (ONA) --- Certificates of deposit tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted for issue No. 879 was RO 390 million.

A bulletin issued by the CBO stated that the average interest rate of these certificates was 0.13% while the maximum accepted interest rate was 0.13%. The tenor of these certificates is 28 days, so their maturity date is on September 10th.

The certificates of deposit issued to licensed banks by the CBO as a monetary policy instrument aimed at absorbing excess liquidity in the banking sector in particular and maintaining stability of the interest rate and the money market in general.

The Repo rate during August 13th till 19th is 1%.


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Source: Oman News Agency

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