CBO issues treasury bills worth OMR99mn

Muscat: Oman’s central bank raised OMR99 million by way of allotting treasury bills on Tuesday.
The treasury bills are for a maturity period 91 days, starting from Wednesday until March 10, 2021.
The treasury bills are short-term highly secured financial instruments issued by the CBO on behalf of the Government, which helps the licensed commercial banks to gainfully invest their surplus funds, with added advantage of ready liquidity through discounting and repurchase facilities (Repo) offered by the Central Bank.
Further, treasury bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Also, the Government (MOF) may also resort to this instrument whenever felt necessary for financing its recurrent expenditures.