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OMAN : CBO allots RO 81m CoD tender
Publish Date : 06-Feb-2012
Certificates of deposit tender was held at the Central Bank of Oman (CBO) last week. The total amount allotted for issue No. 753 was RO 81 million. A bulletin issued by the CBO stated that the average interest rate of these certificates was 0.11 per cent whilst the maximum accepted interest rate was 0.11 per cent. The tenor of these certificates is 28 days, so their maturity date is on February 29th.
The certificates of deposit issued to licensed banks by the CBO as a monetary policy instrument aimed at absorbing excess liquidity at the banking sector in particular and maintaining stability of the interest rate and the money market in general. The Repo rate during February 1st to 7th is 2 per cent.
