China and Oman Central Banks Sign Local Currency Swap Agreement and Digital Currency Cooperation MOU

November 3: According to the official website of the People's Bank of China, PBOC Governor Pan Gongsheng and Governor of the Central Bank of Oman Ahmed Al Musalmi recently signed the RMB/Omani Rial Bilateral Local Currency Swap Agreement and the Memorandum of Understanding on Strengthening Cooperation in Digital Payments and Legal Digital Currency, witnessed by the heads of state of both countries. The swap agreement is valued at RMB 30 billion / OMR 1.5 billion and is valid for five years. The two sides met the same day and exchanged views on bilateral economic and financial cooperation and other topics. The central bank said the agreements aim to deepen monetary and financial cooperation between the two countries, enhance the facilitation of cross-border digital payments, and safeguard financial market stability.