Certificates of deposit tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted for issue No. 730 was RO. 258 million. A bulletin issued by the CBO stated that the average interest rate of these certificates was 0.03% while the maximum accepted interest rate was 0.03%. The tenor of these certificates is 28 days, so their maturity date is on September 7th. The certificates of deposit issued to licensed banks by the CBO as a monetary policy instrument aimed at absorbing excess liquidity at the banking sector in particular and maintaining stability of the interest rate and the money market in general.