Vostro Accounts are accounts opened and operated by OIB on behalf of banks from around the world to meet their OMR requirements.
The operation of these accounts is subject to strict guidelines issued by the Central bank of . Oman. No credit interest is payable on the Bank's credit balance in the account and no overdrafts are allowed on the accounts.
These accounts provide OIB with interest free funds for lending. The account holders are provided with daily MT940/950 swift statements, which enable them to reconcile their transactions within 24hrs. |