RIYADH: Oman’s total credit balance in the banking sector grew 3.3 percent in August, reaching 31.4 billion Omani rials ($81.6 billion), official data showed. According to figures issued by the Central Bank of Oman, the private sector saw a 2.8 percent increase in credit, totaling 26.3 billion rials by the end of August. The central bank’s data revealed that non-financial companies accounted for the largest share of credit at 44.9 percent, closely followed by individuals at 45.2 percent. Financial firms represented 6.4 percent, while other sectors made up the remaining 3.5 percent. The increase in credit figures indicates a robust and expanding economic environment in Oman, characterized by a greater flow of funds throughout the economy.