OMAN: RECENT ECONOMIC DEVELOPMENTS.
Summary: The Central Bank of Oman said that the number of bounced cheques rose 32% yoy in 2016.
The Central Bank of Oman said that the number of bounced cheques rose 32% yoy in 2016. Additionally, the central bank found that insufficient funds were the major cause for unpaid cheques, followed by accounts closed or EeAaelegally blockedEe' accounts; Oman Telecommunications Co (Omantel) said it has signed a share purchase agreement to acquire from the Treasury 425.7mn shares (9.84% of outstanding common shares) in Kuwaiti Mobile Telecommunications Company (Zain Group); Mandatory health insurance for private sector employees in Oman could start in Jan 2018, according to press reports.
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