Oman Money Supply Rises 6.4% to $68.6bn in November
Oman money supply rose by 6.4 percent to 26.4 billion Omani rials ($68.6 billion) in November, reflecting solid liquidity conditions and continued growth in bank deposits, according to official data released on Saturday.
The increase in Oman money supply, which measures cash in circulation along with bank deposits, was driven by a 12.2 percent rise in cash and demand deposits, as well as a 4.1 percent increase in savings and time deposits, the Oman News Agency reported.
The latest figures extend a positive trend seen earlier in 2025, with money supply up 6.1 percent in the three months through August. This growth was supported by a 6.9 percent increase in narrow money and a 5.8 percent rise in quasi-money, pointing to sustained liquidity across the banking system.
The expansion in monetary aggregates suggests continued policy support for private-sector lending as the sultanate advances fiscal and economic reforms under its Vision 2040 strategy. During the same period, currency in circulation increased 1.9 percent, while demand deposits climbed 14.1 percent, according to the report.
At conventional commercial banks, the weighted average deposit rate in Omani rials declined to 2.50 percent in November from 2.73 percent a year earlier. Meanwhile, the weighted average lending rate eased to 5.45 percent from 5.67 percent over the same period.
The overnight interbank lending rate averaged 3.92 percent in November, down from 4.56 percent a year earlier, reflecting lower repo rates influenced by recent US Federal Reserve policy shifts.
Total assets of Islamic banks and windows reached around 9.3 billion Omani rials by the end of November, accounting for 19.4 percent of Oman’s total banking sector assets. This represented a 12.3 percent increase compared with the same period last year, based on data from the Central Bank of Oman.
Financing by Islamic banking units rose 10.3 percent to approximately 7.5 billion rials, while deposits increased 10.9 percent to about 7.3 billion rials by the end of November.
The data follows the International Monetary Fund’s 2025 Article IV consultation, which highlighted the resilience of Oman’s economy amid global uncertainty, citing steady non-hydrocarbon growth, low inflation, and sound fiscal and external positions.
