Oman has started implementing stress tests in its banking sector to limit the impact of the euro zone crisis and a feared global recession, a senior central bank official said on Sunday.
"Some banks are already doing their stress scenarios and the central bank is also conducting stress tests in the banking system," Abdulrahman Ibrahim al-Balushi, senior manager at the Banking Examination Department of Oman's Central Bank, told Reuters.
"Directly or indirectly there will be some impact in our region from the euro zone crisis. So we will tell the banks to catch up with whatever is happening on a global scale."
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