China and Oman Sign $4.5 Billion Currency Swap and Digital Currency Pact

The People's Bank of China and the Central Bank of Oman have signed a five-year bilateral currency swap agreement valued at 30 billion yuan ($4.5 billion). The central banks also signed a memorandum of understanding covering central bank digital currencies and cross-border payment cooperation during Sultan Haitham bin Tarik's state visit to Beijing. The pact broadens China's monetary cooperation network in the Gulf alongside existing arrangements with the UAE.

Published November 4, 2026 Source: BigGo Finance

English Original
中文 Chinese version
العربية Automatic translation

Issuing authority: People's Bank of China, Central Bank of Oman
Jurisdiction: China, Oman
Publication date: November 3, 2026
Stage: Final rule
Official document: Bilateral Currency Swap Agreement and Memorandum of Understanding on Central Bank Digital Currencies
Official source: news.google.com

Illustration

The People's Bank of China (PBOC) and the Central Bank of Oman have entered into a five-year bilateral currency swap arrangement valued at 30 billion yuan (approximately $4.5 billion or 1.5 billion Omani rials), according to BigGo Finance. The agreement was executed by PBOC Governor Pan Gongsheng and Central Bank of Oman Governor Ahmed Al Musalmi.

Alongside the currency swap, the two central banks signed a memorandum of understanding on central bank digital currencies (CBDCs) and cross-border payment cooperation. The PBOC stated that the arrangement is intended to strengthen monetary cooperation, facilitate cross-border digital payment settlement, and support financial stability.

The agreements were reached during a state visit to Beijing by Oman's Sultan Haitham bin Tarik, who held meetings with Chinese President Xi Jinping. The financial accords were concluded as part of a wider set of bilateral cooperation documents between the two nations.

Trade data cited by the source indicates China accounted for approximately 23.8% of Oman's total trade in 2025, with bilateral trade reaching around 9.6 billion Omani rials. The new pact extends Beijing's regional financial cooperation network across the Gulf Cooperation Council, where China maintains existing bilateral currency arrangements with Saudi Arabia and the United Arab Emirates.