Oman banks get more flexibility in financing stock investments

Oman’s central bank said it approved a recommendation that would provide more flexibility for banks in financing stock market investments.

The regulator’s board reviewed the prospects and challenges facing the economy and approved a recommendation to amend some of the provisions in granting of loans against shares.

“The amendment is expected to provide greater flexibility and enhanced opportunities to banks in financing investments in shares or against the security of shares,” according to a statement posted on its website. It didn’t provide further details.

The regulator also said banking sector in Oman was “comfortably placed” to ensure its continued support to the economy.