Oman’s Money Supply and Banking Assets See Significant Growth in September 2024

Oman, 9 December, 2024 : Broad money supply (M2) in Oman grew by 13.9%, reaching RO 24.69 billion by the end of September 2024, according to the National Centre for Statistics and Information (NCSI). Narrow money supply (M1) rose by 18.2% to RO 6.71 billion during the same period.

The Central Bank of Oman’s foreign assets increased by 20.7% year-on-year to RO 7.49 billion. Private sector deposits in commercial banks and Islamic windows rose by 12.7% to RO 20.73 billion, while total loans and financing increased by 5% to RO 31.97 billion.

The average interest rate on loans reached 5.604%, up by 2.8%, while the Omani Rial's effective exchange rate index fell by 2.7% to 114.2.