Oman Central Bank Circular No. BM655/1992
Exemption of Loans and Advances Secured by Government Development Bonds from Single Obligor Norms Stipulated in the Banking Law 1974 and the Amendments Thereto
Type
Regulatory
Agency
Oman Central Bank
Issued on
2 May 1992 (corresponding to 28 Shawwal 1412 H)
Jurisdiction
Oman
Taxonomy
Financial Institutions, Banks, Central Government, Lending & Security
To: All Banks Operating in the Sultanate of Oman
Subject: Exemption of Loans and Advances Secured by Government Development Bonds from Single Obligor Norms stipulated in the Banking Law 1974 and the Amendments thereto
As banks are aware, the fourth Development Plan of the Government of the Sultanate envisages the mobilization of substantial local resources for its successful implementation. Mobilization of resources through the issuance of Government Development Bonds is expected to play a significant role in the Government’s overall strategy.