Central Bank of Oman
Mohamed Al Faris is a seasoned professional in the financial services sector, currently serving as a Senior Business Development Executive at the Central Bank of Oman since March 2020, focusing on credit bureau services. Prior experience includes roles as Business Development Manager at Kamal Exchange Company LLC from November 2015 to February 2020, General Manager of the Jordan Branch at SHUAA Capital psc from November 2008 to October 2012, and Deputy General Manager of Operations at Tadawol For Financial Services from December 2005 to July 2008. Mohamed's earlier career includes serving as Controller of Credit Remedial at Arab Banking Corporation (Jordan) from April 2001 to November 2005, and as Operations Officer at Jordan Commercial Bank from May 1998 to August 1999. Mohamed holds a Bachelor's degree in Economy from the University of Jordan, where studies were completed from 1991 to 1998.
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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.