Central Bank of Oman launches 24/7 RTGS
Oman will be connected to payment systems across the Arab world via AFAQ and Buna systems
The Central Bank of Oman (CBO) launched a 24/7 real-time gross settlement (RTGS) system on June 18, in a move that makes the country one of only a handful with round-the-clock settlement.
The CBO said the ministry of finance, commercial banks and the Muscat Clearing and Depository Company are current system participants. They are able to monitor liquidity requirements in real time with the new system. The system is also expected to unlock greater opportunities for cross-border payments.
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