Oman is trying to improve its banking system by establishing a network of online banks, the bank says.
But the country has faced criticism for its slow implementation and its inability to provide reliable information to its citizens about the status of its banks.
The country’s banking sector has long struggled to make its information available online, as banks are not allowed to operate under the same regulatory framework as banks in the rest of the world.
That has caused frustration among consumers, who say the country’s online banking system is outdated and not up to the standards of its international peers.
The bank is aiming to build a system that provides users with accurate information on the state of its bank accounts, which are subject to strict KYC checks, according to the bank’s website.
The banks are expected to open their first online banking sites in early 2020.
The Omani banking system has faced problems with its financial system since the early 1990s, and the country was declared a Special Financial Area (SGFA) by the International Monetary Fund (IMF).
The SGFA designation allows banks to operate outside of Oman, but it has come under fire from civil society groups.
“The government’s banking reforms have been slow and inconsistent,” the bank said in a statement.
“This has left them confused and disappointed with the status and status of their bank accounts.” “
Oman has long faced criticism over its banking sector, and has been ranked as the second-worst bank in the world for transparency, according a recent Transparency International report. “
This has left them confused and disappointed with the status and status of their bank accounts.”
Oman has long faced criticism over its banking sector, and has been ranked as the second-worst bank in the world for transparency, according a recent Transparency International report.
In January, the Omani parliament passed a bill that gave the government authority to create a digital banking infrastructure to ensure the country remains compliant with the IMF and the World Bank.
The bill also granted the government powers to issue and enforce national banking standards, including KYC requirements, according the Financial Times.
The legislation allows the government to issue the National Bank Certificate (NBACC), a digital version of a bank’s certificate, which will allow users to access accounts.
The NBACC is currently only available to Omani citizens, but will be available to the wider public in 2019.
The government is also working on establishing a central clearing house to facilitate the transfer of deposits and payments, and it plans to set up a new national financial market, the newspaper Al-Arabiya reported.
The banking sector in Oman is also facing challenges, according an OECD study.
It said that the country had one of the worst rates of growth in the Middle East and North Africa, and its rate of inflation remained at nearly double the global average.
The OECD said Oman has not fully reformed its financial sector and that it is still suffering from a lack of transparency.
The report said that while Oman’s financial sector is considered to be among the most transparent in the region, it is not yet fully aligned with the requirements of the IMF, World Bank and the European Union.
Oman’s banking system also faces problems with the use of cryptocurrencies, as the country does not have any centralised exchange.
According to the Oman Bank Transparency Initiative, only 5% of the money in Oman’s economy is held in digital currencies.