Latest news with #CentralBankOfOman
Zawya
a day ago
- Business
- Zawya
Moody's upgrades Bank Nizwa to investment grade (Baa3), reflecting robust financial strength and strategic growth
Muscat: In a significant development reflecting Bank Nizwa's – the leading and most trusted Islamic bank in the Sultanate of Oman – strategic and sustainable growth, Moody's Investors Service announced significant upgrades to its long-term foreign and local currency deposit ratings, which have been elevated to an investment grade Baa3 from Ba1 with stable outlook. Concurrently, the bank's Baseline Credit Assessment (BCA) and Adjusted BCA have also seen a robust improvement. These prestigious upgrades reflect Bank Nizwa's unwavering commitment to financial excellence and its strong positioning within the Sultanate's evolving economic landscape. The enhancements directly reflect the positive momentum driven by improved operating conditions, which are continually strengthening the bank's financial performance, including capital buffers. Mr. Khaled Al Kayed, Chief Executive Officer of Bank Nizwa, commented, 'We extend our sincere gratitude to our shareholders, customers, and the official authorities – including the Central Bank of Oman (CBO), Ministry of Finance and Debt Management Office – for their continued support and unwavering commitment to financial discipline and strategic oversight. Their efforts have contributed to creating a conducive environment for the growth and prosperity of financial institutions in the Sultanate of Oman. This rating stands as a testament to Bank Nizwa's operational resilience and reflects the deep confidence placed in us by our shareholders, customers, and partners. It also aligns with the aspirations of Oman Vision 2040, which lays a strong foundation for diversified economic growth, robust fiscal sustainability, and an Islamic finance sector capable of contributing meaningfully to a progressive and resilient future.' He added, 'As the nation's first Islamic bank, we view this upgrade as a strong affirmation of the growing relevance of Sharia-compliant finance as a catalyst for national stability, financial inclusion, and enduring value creation. A rating action of this nature strengthens market sentiment, improves long-term credibility, and enables us to channel Islamic financial solutions toward effectively creating a tangible transformational impact.' The upgrades to Bank Nizwa's deposit ratings and Baseline Credit Assessment (BCA) reflect Moody's positive outlook on the bank's intrinsic financial strength, reaffirming its strong capital adequacy and ample liquidity. These upgrades also underscore the bank's continued ability to achieve its strategic objectives – including the expansion of its Islamic banking operations – while maintaining disciplined cost control and adhering to sustainable growth practices. Bank Nizwa's institutional strength is reflected in the growing confidence of its customers, as the bank continues to expand its services and enhance its offerings and products. Customer deposits remain a fundamental pillar of its funding structure, and the sustainable growth in the deposit base stands as clear indication of the trust placed in the bank by both individuals and businesses. This development also comes at a time when Oman is earning renewed global recognition for its economic reforms and fiscal discipline. Moody's recent upgrade of the Sultanate's sovereign rating to Baa3 underscores the government's efforts to foster stability, diversify the economy, and strengthen the financial sector. These national-level advancements further reinforce Bank Nizwa's ability to operate confidently and contribute meaningfully to the country's long-term goals. Bank Nizwa remains committed to fostering innovation in Sharia-compliant financial solutions and supporting Oman's broader development aspirations. With strong fundamentals and a future-focused strategy, the bank is poised to play a vital role in shaping the next phase of Islamic banking in the region.
Zawya
23-07-2025
- Business
- Zawya
Oman: Bank Muscat enables IBAN Service for Fund Transfers across borders
Muscat: In a commitment to enhance payment system efficiency and align with international standards for improved customer experience, Bank Muscat, the leading financial services provider in the Sultanate of Oman, has begun to support the International Bank Account Number (IBAN) for fund transfers across borders starting July 1, 2025. This initiative, in accordance with directives from the Central Bank of Oman (CBO), aims to reduce operational errors and speed up financial transactions between individuals and businesses, ultimately providing beneficiaries with safer and smoother transfers. As part of these directives, cross-border transfers that do not utilize the IBAN will no longer be accepted as of July 1, 2025. The IBAN will be a prerequisite to receive all fund transfers to Oman, while domestic transfers will still have the option to use either the IBAN or the traditional account number. Zuwaina Abdullah Al Sharji, Assistant General Manager of Central Operations & Change Management at Bank Muscat, stated, "The bank is committed to complying with international standards and implementing best banking practices. The decision to adopt the IBAN is intended to accelerate bank transfers (STP), standardize account coordination among all banks, reduce human errors in account entry, and adhere to international standards like the SWIFT system. This will significantly enhance the security and speed of transaction processing." Al Sharji emphasized Bank Muscat's dedication to integrating the latest banking systems to facilitate the swift completion of transactions for individual and corporate customers, ensuring an exceptional banking experience that meets contemporary local and international standards. She encouraged customers to include a valid IBAN from their account information and to follow the issued guidelines to avoid any complications during transfer operations. Customers can easily obtain their IBAN through various channels, including Internet Banking, Mobile Banking, visiting a branch, calling customer service, or accessing the dedicated page: ( The IBAN is also typically displayed next to the account number on bank statements. Bank Muscat is committed to excellence in managing its operations and services, striving to apply the highest efficiency standards in fund transfers and transactions with minimal manual intervention. This dedication enhances transaction quality and minimizes payment delays. The bank offers a variety of money transfer services accessible through multiple channels, including branches across the governorates, Internet Banking, and Mobile Banking. Customers can also benefit from swift transfer options to countries such as India, Pakistan, Bangladesh, the Philippines, and Sri Lanka. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
22-07-2025
- Business
- Times of Oman
Bank Muscat enables IBAN Service for Fund Transfers across borders
Muscat: In a commitment to enhance payment system efficiency and align with international standards for improved customer experience, Bank Muscat, the leading financial services provider in the Sultanate of Oman, has begun to support the International Bank Account Number (IBAN) for fund transfers across borders starting July 1, 2025. This initiative, in accordance with directives from the Central Bank of Oman (CBO), aims to reduce operational errors and speed up financial transactions between individuals and businesses, ultimately providing beneficiaries with safer and smoother transfers. As part of these directives, cross-border transfers that do not utilize the IBAN will no longer be accepted as of July 1, 2025. The IBAN will be a prerequisite to receive all fund transfers to Oman, while domestic transfers will still have the option to use either the IBAN or the traditional account number. Zuwaina Abdullah Al Sharji, Assistant General Manager of Central Operations & Change Management at Bank Muscat, stated, "The bank is committed to complying with international standards and implementing best banking practices. The decision to adopt the IBAN is intended to accelerate bank transfers (STP), standardize account coordination among all banks, reduce human errors in account entry, and adhere to international standards like the SWIFT system. This will significantly enhance the security and speed of transaction processing." Al Sharji emphasized Bank Muscat's dedication to integrating the latest banking systems to facilitate the swift completion of transactions for individual and corporate customers, ensuring an exceptional banking experience that meets contemporary local and international standards. She encouraged customers to include a valid IBAN from their account information and to follow the issued guidelines to avoid any complications during transfer operations. Customers can easily obtain their IBAN through various channels, including Internet Banking, Mobile Banking, visiting a branch, calling customer service, or accessing the dedicated page: ( The IBAN is also typically displayed next to the account number on bank statements. Bank Muscat is committed to excellence in managing its operations and services, striving to apply the highest efficiency standards in fund transfers and transactions with minimal manual intervention. This dedication enhances transaction quality and minimizes payment delays. The bank offers a variety of money transfer services accessible through multiple channels, including branches across the governorates, Internet Banking, and Mobile Banking. Customers can also benefit from swift transfer options to countries such as India, Pakistan, Bangladesh, the Philippines, and Sri Lanka.
Zawya
16-07-2025
- Business
- Zawya
Oman: $155mln bonds at 4.3% to attract investors
MUSCAT - The Government of the Sultanate of Oman, through the Central Bank of Oman (CBO), has announced the 75th issuance of Government Development Bonds (GDBs) worth RO 60 million, with an additional RO 30 million greenshoe option, to be auctioned on Tuesday, July 22, 2025. Carrying a competitive coupon rate of 4.3 per cent per annum, the bonds will mature in three years, on July 24, 2028, offering semi-annual interest payments. The first coupon will be disbursed on January 24, 2026, making this issuance an attractive vehicle for both income-focused investors and those seeking a safe, sovereign-backed opportunity. According to the CBO, this offering is open to all categories of investors, including both residents and non-residents, regardless of nationality, making it a potential magnet for regional and international capital. The bonds are fully backed by the Government of Oman and serve as unconditional obligations, providing investors with a high level of capital security. The auction aligns with the government's wider efforts to deepen local financial markets, promote financial inclusion, and offer diverse investment instruments in line with Oman Vision 2040 goals. With interest rates remaining volatile globally, Oman's offering at 4.3% is expected to garner keen interest amid a tightening international credit environment. 'This issuance sends a strong signal about the resilience and transparency of Oman's financial sector,' said a senior market analyst based in Muscat. 'Government Development Bonds are a preferred instrument for institutional investors looking for low-risk and stable returns.' The subscription window opens on Tuesday, July 15, 2025, and closes on Monday, July 21, 2025, allowing investors a six-day period to apply. Participation is facilitated through licensed commercial banks operating in the Sultanate, who will handle application submissions. The minimum investment required is RO 100, making it accessible to retail investors as well. Beyond attractive returns and safety, the bonds offer collateral advantages—they can be pledged as security for loans from licensed banks. Additionally, the bonds will be listed on the Muscat Stock Exchange (MSX), providing liquidity and a secondary market for early exits. To participate, investors must possess an MCD Investor Code, which can be obtained through the Muscat Clearing and Depository Company (MCD) website or the Oman Stock Exchange at least one day prior to the application deadline. Applicants must also provide a bank account registered with MCD to receive interest payments. The inclusion of a RO 30 million greenshoe option—an additional allotment in case of oversubscription—indicates confidence that market demand could exceed the initial offer. Previous GDB issuances in Oman have witnessed strong investor participation, especially from pension funds, corporates, and high-net-worth individuals seeking fixed-income opportunities. This 75th issuance comes at a time when Oman continues to focus on economic diversification, fiscal reform, and building investor trust in its capital markets. With steady yields, guaranteed government backing, and full tradability on the MSX, the GDBs are set to serve as a benchmark for financial instruments in the region. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Times of Oman
14-07-2025
- Business
- Times of Oman
Oman's central bank issues treasury bills worth OMR10.25 million
Muscat: Oman's central bank has issued treasury bills worth OMR10.25 million on Monday. The value of the allotted Treasury bills amounted to OMR10.25 million, for a maturity period of 91 days. The average accepted price reached OMR98.941 for every OMR100, and the minimum accepted price arrived at OMR98.930 per OMR100. The average discount rate and the average yield reached 4.24871% and 4.29421%, respectively. Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides the added advantage of ready liquidity through discounting and repurchase facilities (Repo). It may be noted that the interest rate on the Repo operations with CBO is 5.00% while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.50%.
