Monetary situation stable in Oman
Monetary situation remained stable and supportive to the commercial and financial performance of banks in the Sultanate of Oman during the first half of this year. According to ONA, total budget of commercial banks operating in the Sultanate showed that total credit and foreign assets, total deposit core capital and reserves of those banks have seen positive growth.
Credit offered by banks expanded by 15.3% to RO. 4139.8 million by the end of June 2006. Credit offered to the private sector (which accounts for 95% of total credit) increased by 15.4%, while banks foreign assets surged by 24.2% to RO. 1102.6 million by the end of June this year.