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Oman money supply up 5.6pc in Jan-Oct

Muscat, December 9, 2009

Omani money supply grew 5.6 per cent in January-October to OR7.78 billion ($20.21 billion) from the same period a year ago, central bank data has showed.

Money supply measured as M2 includes time and savings deposits, margins and foreign currency.

Total assets of commercial banks increased 5.5 per cent to OR14.3 billion in the first 10 months of 2009 from a year ago.

The growth was due to a rise in total credit extended by commercial banks, which stood at OR9.753 billion in January-October, up from OR8.88 billion a year earlier.

The central bank said that it had raised a total of OR1.23 billion from certificates of deposits (CDs) in January-October, up from OR639 million compared in the same period in 2008. – Reuters




Tags: Oman | Muscat | Central Bank | money | bank assets |

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