The Central Bank of Oman is the nation’s monetary authority, established in December 1974 and operational since April 1, 19751. It replaced the Oman Currency Board and is currently headed by His Highness Sayyid Taimur bin Asa’ad bin Tariq Al Said. The CBO formulates and administers monetary policy with goals such as price stability, economic growth, and employment. It also licenses, regulates, and supervises financial institutions including commercial banks, specialized banks, and money exchange companies. The CBO is committed to fostering a sound and progressive banking and financial system conducive to the sustained economic growth of Oman.