Monetary and banking developments in the Sultanate of Oman remained stable and supportive to the commercial and financial performance of the commercial banks during 2006.
According to ONA, balance sheet of the operating banks in Oman by end of May 2006, stated that money supply posted a positive increase of 16.9% to hit RO. 4094.1 million at the end of May this year. Credit granted to private sector, which constitutes 95% of total credit, rose by 18.2%. Foreign assets at commercial banks rose by 20.8%, reaching RO. 1038.2 million by end of May 2006.