Oman cenbank sees credit growth accelerating

Hamood Sangour al-Zadjali says credit growth is expected to hit double figures by end of year

Credit growth in Oman is expected to hit double digits by the end of this year, central bank chief Hamood Sangour al-Zadjali said on Monday.

"Percentage-wise, it might be a little bit low, but last year there were many projects executed. We still have two more months this year so it might pick up," Zadjali told Reuters on the sidelines of a financial conference.

"We expect double-digit growth this year, hopefully."

Bank lending in Oman grew 9.0 percent from a year earlier in August, the highest rate since February and up from 8.1 percent in July, according to the latest central bank data.

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