Muscat: A tender for certificates of deposits (CDs) was held at the Central Bank of Oman (CBO) this week, with a total of OMR446.5 million allotted for issue No. 808.
A bulletin issued by the Central Bank of Oman stated that the average interest rate of these certificates was 0.13 per cent whilst the maximum accepted interest rate was to remain at 0.13 per cent.
These are 28-day certificates with a maturity date of April 10, the bulletin stated.
The certificates of deposit issued to licenced banks by the Central Bank of Oman are considered a monetary policy instrument aimed at absorbing excess liquidity in the banking sector and maintaining stability of interest rates and in the money market, in general.
The Repo rate during March 13 to 19 is one per cent, the CBO bulletin stated.