Twenty-five students from the Business Studies Department (BSD) participated in an educational tour at the Central Bank of Oman (CBO) on November 10, 2015.

The ShCT students learned various aspects of the institution through a video presentation, talks and a tour within the facility, primarily the museum.

Welcomed by CBO HR staff Mr Khalifa Al-Gaithi, the students came to know the objectives, functions, role, and history of the Central Bank of Oman.

Banking expert Mr. Malek Al-Rashid discussed the three main functions of the CBO: the formulation and implementation of monetary policies, the promotion of a sound and efficient financial system and the banking role with emphasis on gains and achievements of the CBO from 1974 to present, primarily on overcoming the financial crisis of 2008.

Meanwhile, senior statistician Mr. Abdullah Al-Saidi gave a short talk on the monetary policies and mechanism of reserves management as he shared insights on the experiences of foreign Central Banks in dealing with the financial crisis.

Mr. Mohammed Al-Lawati, a banking development assistant, and Ms. Aziza Al-Ahrami, an assistant banking officer, presented the statistics on the transactions of CBO with the different commercial, specialized and Islamic banks in Oman.

The chief of production and follow up unit, Mr. Saif Al-Busaidi helped explain the history of Oman currency, specifically the Omani banknotes and coins used from 1974 to present.

Facilitated by BSD’s Student Support Services Committee, the visit was coordinated by Ms. Radouch Amel and Dr. R. Alamelumangai.