Oman's banking sector opts for weekend change

DUBAI: Oman's banks will switch over to a Friday-Saturday weekend with effect from July 1, in order to align their banking activities with international markets.

The Central Bank of Oman (CBO) has issued a circular to the banking sector, approving a request from the commercial banks to change their working days and weekend holidays, an Arabic daily reported.

At present, banks in Oman are closed only on Fridays and work for an hour less on Thursdays.

They will now adopt a five-day week, operating from Sunday to Thursday and remaining closed on Fridays and Saturdays, when the new practice comes into force.

The approval was granted by CBO in response to a request from commercial banks, who asked for a change in their working days and weekend holidays to enable them to streamline their work in line with the international markets and establishments which operate on Thursdays, Hamood Bin Sangour Al Zedjali, Executive President of the CBO, was quoted by Arabic daily Al Shabiba.

Qatar was the first Gulf nation to adopt a weekend change in 2003. It was followed by UAE and Bahrain who switched over to a Friday-Saturday weekend in 2006.