Commercial Banks in the Sultanate - Monetary Position

Originally published June 21, 2003

Oman's official news agency said: Liquidity of commercial banks in the Sultanate stood at RO. 2796,5 million during the first quarter of this year compared to 2786,6 million during the corresponding period in 2002, constituting a 0.4% rise."

ÊÊÊÊ The quarterly statistical bulletin issued by the Central Bank of Oman (CBO) attributed this rise to a rise in money supply (cash outside commercial banks and time demand deposits), which amounted to RO. 820,2 million, compared to RO. 772,6 million during the first quarter of 2002.

ÊÊÊÊ Quasi money stood at RO. 1976,3 million at the end of march 2003, compared to RO. 2014 million during the corresponding period in 2002.

ÊÊÊÊ The same bulletin stated that foreign assets of banks rose from RO. 905,3 million during the first quarter of 2002 to RO. 1254,2 million in 2003, whereas domestic assets fell from RO. 1881,3 million during the same period in 2002 to RO. 1542,3 million this year.

ÊÊÊÊ Private deposits stood at RO. 2308,1 million during the first quarter of 2003, of which an RO. 1150,6 million came as time deposits, RO. 598,4 saving deposits and RO. 559,1 million demand deposits.

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