Oman denies Gulf talks to obtain multi-billion-dollar deposit

The proposed Omani deposit would be a fresh effort by countries in the GCC to prevent financial instability from spreading around the region. (AFP)

Oman has denied that it is negotiating with Gulf Arab countries to secure a multi-billion-dollar deposit in its central bank, according to an official statement released on Tuesday.

An earlier report from Reuters news agency quoted two unnamed sources as saying that Omani officials met in recent weeks with officials of the finance ministries of Kuwait, Qatar and Saudi Arabia to discuss the proposed deposit.

A statement released on Oman News Agency said that the report of talks existing is “completely false” and that “Sultanate of Oman has enough foreign reserves and that there are no pressures on the rial”.

Last Update: Wednesday, 20 May 2020 KSA 09:49 - GMT 06:49