A majority of leasing and hire purchase companies in the country have reached the minimum capital requirement stipulated by the Central Bank of Oman (CBO) at OMR25 million, well ahead of its deadline at year-end. A few other companies have structured their bond conversion plans in such a way so as to touch the paid-up capital at OMR25 million before the end of this year. The CBO, a few years ago, had asked leasing and hire purchase companies to raise minimum capital to OMR25 million by the end of 2016 from OMR20 million in 2012 in a phased manner. (Times of Oman)