Muscat: The Board of Directors of the Central Bank of Oman (CBO) held today its second meeting of 2026 at the bank's headquarters in Muscat. The Board addressed key strategic decisions crucial for the development of Oman's financial sector.

According to Oman News Agency, the Board approved the general strategy of the Oman Credit and Financial Information Center. This strategic move is expected to streamline financial data and credit information management. Additionally, the Board sanctioned the Islamic banking policy concerning the conversion of Islamic windows at conventional banks into independent Islamic banks. This policy aims to enhance the efficiency of the Islamic banking sector and bolster its growth and sustainability.

The meeting also saw the approval of the licensing policy for investment banks and private banks in the Sultanate of Oman. This initiative seeks to diversify financial services, deepen the financial sector, and broaden financing and investment options, thereby supporting economic growth.

Furthermore, the Board agreed on the Central Bank of Oman's participation in the official program for commemorative coin issues for collectors for the Olympics 2028, representing the continent of Asia. This participation underscores Oman's commitment to engaging in global commemorative initiatives.

The Board also reviewed various reports and briefing notes related to the Central Bank of Oman's operations and the financial sector. Several topics on the agenda were discussed and decisions were taken to further enhance the bank's operational efficacy and strategic direction.