Central Bank of Oman executive president discusses banking challenges

Muscat: Hamoud bin Sangour Al Zedjali, Executive President of the Central Bank of Oman yesterday chaired the annual meeting of CEOs, general managers and officials of banks operating in Oman.
The CBO Executive President stressed the importance of this regular meeting, which comes within the framework of existing cooperation and coordination among banking institutions, CBO, its various departments and units.
He also affirmed the endeavours of all to find successful solutions for the issues and challenges facing the banking sector and facilitating its assignments.
Al Zedjali also confirmed that the banks in the Sultanate fulfilled the minimum conditions of Basel III at the end of 2015. He added that the banks also maintained high levels of basic capital while the CBO financial tolerance evaluators continue in a bid to show the flexible banking system as each bank is required to identify weakness points and adopt proactive measures to limit weakness.