Personal Loan Interest Cap to Not Change

As per the statement of the Central Bank of Oman (CBO) executive president, the Sultanate’s monetary condition is stable and  a close follow up of the relevant developments is in place so as to ensure imbalance among maintaining prices at acceptable levels at the local economy along with economic activities having a continuous growth being stimulated.

The local banks have no intentions to alter interest cap on personal loans. The CBO would be considering the plans in future by focusing mainly on the stability fundamentals at its right place which would ensure that there is stable monetary policy and an efficient efficient banking sector.

In order to manage the liquidity conditions for Islamic banking by availing financial tools, the CBO is presently considering its organisational and legislative aspects.

To ensure more progress in the comprehensive development process, the CBO constantly follows the credit, liquidity, and saving conditions and trends to confirm that they are directed rightly which would justify the efforts made by the government which the Sultanate has been witnessing.