Central Bank of Oman
Bader Al Lawati is an experienced professional in the field of Fintech and payment systems, currently serving as an Innovation Officer at the Central Bank of Oman since August 2017. In this role, Bader participates in three key Fintech committees, focusing on enhancing the national Fintech environment and contributing to initiatives within the GCC and AMF. Previously, Bader held the position of Senior Payment Systems Specialist, where responsibilities included establishing payment system policies, licensing non-bank Payment Service Providers, and developing mobile payment solutions. Bader also contributed to the drafting of the National Payment Systems Law and supported the establishment of the Payment Systems Oversight & Development section during the tenure as a Payment Systems Officer. Academic qualifications include a Master of Risk Management from UNSW Business School and a Bachelor’s degree in Business Finance from Sultan Qaboos University.
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Central Bank of Oman
The Central Bank of Oman, the nation’s central bank, is responsible for promoting and maintaining monetary and financial stability in the Sultanate of Oman, as well as for fostering a sound and progressive banking and financial system in the country conducive to its sustained economic growth. Monetary stability means stable prices and confidence in the currency. Financial stability entails detecting and reducing threats to the financial system as a whole. CBO is also the single integrated regulator of the banking and financial services sector in the country. In order to achieve the above purposes, CBO performs various functions as follows, as mandated by Banking Laws 1974 and its subsequent amendments. -Formulates and administers monetary policy to achieve a variety of goals including stable prices, growth and employment. -Licenses, regulates and supervises commercial banks, specialized banks, financial and leasing companies and money exchange companies. -It acts as a banker to the Government – It provides a full range of banking services for the Government, such as acceptance of deposits from the Government, lending to the Government to help finance the fiscal deficits, running the Government bank account acting as its fiscal agent, public debt management, exchange control, and management of foreign exchange reserves of the country. -It acts as a banker to the Banks – holds deposits from the banks operating in the Sultanate of Oman, lends them funds for short periods, and provides them a variety of other services including payment system, settlement, and clearing facilities. -Issues national currency and manages the liquidity in the banking system.