Cash held by public in Oman declines by 15.3% as demand deposits rise - The Arabian Stories News

Cash held by public in Oman declines by 15.3% as demand deposits rise - The Arabian Stories News

Muscat: According to the Central Bank of Oman, the growth was driven by a sharp 18.6% rise in narrow money and a 4.4% increase in quasi-money, reflecting shifting trends in savings and deposit behaviour across the Sultanate. The quasi-money component includes savings and time deposits in Omani riyals, certificates of deposit, margin accounts, and foreign currency deposits within the banking sector. Interestingly, cash held by the public declined…

Digital economy expert Dr. Abdulrahman Taha said that Standard & Poor's affirmation of the Sultanate of Oman's investment-grade credit rating at "BBB-" with a stable outlook is a positive signal reflecting the strength of the Omani economy and its attractiveness to foreign investment. Taha pointed out that this rating comes as a result of the Omani government's ongoing and deliberate efforts to improve public finance performance and strengthen t…