(MENAFN) Oman's bank interest rates have shown a substantial year on year increase because of the tight liquidity situation in the fiscal system.
Furthermore, the weighted average interest rate of ryal Omani deposits grew to 1.582 percent in Jan this year from 0.948 percent amid the same period of 2016.
Additionally, the government has raised debt funds from the local market by way of development bond issues in the current past to meet the budget deficit.
Recently, the whole credit increased by Omani banks, including Islamic financial institutions, grew by 8.9 percent year on year to OMR22.1bn.
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