Central Banking

Oman cenbank plans Electronic Fund Transfer system

Oman's central bank proposes to introduce Electronic Funds Transfer system to facilitate faster and accurate domestic inter-bank payments.

"Right now, the Central Bank of Oman (CBO) is studying the feasibility of introducing Electronic Funds Transfer (EFT) system as a service provider to meet the future needs of the financial sector. EFT or RTGS (Real Time Gross Settlement System) facilitates faster, quicker and accurate domestic inter-bank payments. It ensures safe and efficient payment syste

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