Liquidity rises in Omani banking sector
Domestic liquidity within the Omani banking system equaled RO 2.22 billion ($5.76 billion) during the third quarter of 2000, compared to RO 2.13 billion during the corresponding period in 1999, an increase of 3.9 percent, according to a statistical bulletin issued by the Central Bank of Oman.
In contrast, though, the net value of foreign assets in the system fell during the first three quarters this year to RO 588.2 million from RO 799 million during the same period in 1999. Domestic assets increased from RO 1.33 billion to RO 1.63 billion during the first three periods of the year.
The total value of private sector deposits as of September 2000 was RO 1.86 billion, of which RO 213.5 million was in foreign currency.
Foreign currency deposits made up 11. 3 percent of all deposits, and foreign assets accounted for 10.6 percent of all assets. Foreign liabilities equaled 14.6 percent of total liabilities.
Seven locally headquartered banks, nine foreign banks, and four specialized banks are licensed to operate in the Sultanate as of September 2000. – (Albawaba-MEBG)