Oman c.bank tells lenders to avoid conflicts of interest | Reuters

Oman c.bank tells lenders to avoid conflicts of interest | Reuters:



"Oman's central bank has told commercial lenders to avoid conflicts of interest when appointing board members and senior management, in a fresh effort to improve corporate governance in the Gulf sultanate. 




The move coincides with a wide-ranging government crackdown on corruption, which has seen several company managers jailed and fined for bribery-related offences.



"It is observed that some of the proposals, received of late, for approval of senior management and memberships in boards imply conflicts of interests," said a circular from the central bank, posted on its website.



For example, there have been proposals for the appointment of board members as senior management in banks, and senior management have been nominated as advisors, consultants and for other positions, the central bank said."



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