Royal decree: Oman’s central bank gets a new Board of Governors

His Majesty Sultan Qaboos bin Said yesterday issued three Royal decrees.

Royal Decree No. 42/2017 restructures the Board of Governors of Central Bank of Oman.

Article (1) states that the Board of Governors of Central Bank of Oman (CBO) shall be formed under the chairmanship of His Majesty the Sultan, with the six people listed below as members:

1. The Deputy Chairman of the Board of Governors of CBO.

2. The Finance Ministry’s Undersecretary.

3. The Chief Executive Officer of CBO.

4. The Chief Executive Officer of Capital Market Authority.

5. Shaikh Mohammed bin Saud bin Salim Bahwan Al Mukhaini.

6. Dr. Saif bin Abdullah bin Saif Al Sheidi.

The membership shall be five years from the date of enforcement of this Decree.

Article (2) cancels all that contradicts this Decree or contravenes its provisions.

Article (3) says that this Decree shall be published in the Official Gazette and shall be enforced with effect from the 11th of June 2017.

Royal Decree No. 43/2017 on the appointment of a deputy to the Chairman of Board of Governors of Central Bank of Oman.

Article (1) appoints Sultan bin Salim bin Said Al Habsi as Deputy Chairman of the Board of Governors of Central Bank of Oman, together with his current rank and financial allocations.

Article (2) says that this Decree shall be published in the Official Gazette and enforced on its date of issue.

Royal Decree No. 44/2017 on the appointment of a CEO for the Central Bank of Oman.

Article (1) appoints Tahir bin Salim bin Abdullah Al Amri as Chief Executive Officer of Central Bank of Oman, with the Special Grade.

Article (2) says that this Decree shall be published in the Official Gazette and enforced on its date of issue.