Oman’s Banks Liquidity Increases 6 percent in 2000
Domestic liquidity of banks operating in Oman increased by 6 percent, totaling 2,404 million riyals in 2000, reported the Gulf News on Sunday. (1OMR = 2.6 USD).
The increase has been attributed to the rise in the value of quasi money from 1,758 million riyals to 1,870.1 million riyals over the year and the surge in the value of the money supply to 533.9 million riyals last year from 509.5 million riyals in 1999.
The net value of foreign assets with commercial banks in Oman dropped from 829.3 million riyals to 773.8 million riyals during the period under review.
Domestic assets climbed to 1,630.2 million riyals from 1,438.2 million riyals in 1999, while the value of assets based on the banks' combined balance sheet amounted to 3,963.6 million riyals (3,496.3 riyals resident and 467.3 million riyals non-resident) last year.
Private deposits with commercial banks totaled 2,009.9 million riyals last year, of which 1,318.9 million riyals were time deposits, 407.3 million riyals saving deposits and 283.7 million riyals demand deposits, said the paper – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)