A Central Bank of Oman (CBO) official has urged banks to tap savings from households in the form of long-term deposits. “Banks should tap potential savings from households in the form of deposits so as to safeguard the banking sector health, and help public cultivate the habit of savings,” Hamood bin Sangour Al Zadjali, executive president of the Central Bank of Oman told Times Business.
According to him, banks have to come out with more attractive deposit scheme to lure households. To cultivate the habit of savings, banks need to introduce savings schemes with reasonable interest rates, he added.
