Muscat: The Central Bank of Oman (CBO) on Wednesday signed an agreement with Dar Al Herafiya, which is a specialised establishment in producing and developing traditional Omani handicrafts.

The agreement was signed by Tahir Salim al Amri, CBO’s Executive President, and Zuwaina Sultan al Rashdi, Dar Al Herafiya’s CEO.

Being the first of its kind in the Sultanate of Oman, this project aims to produce innovative and unique recycled products from shredded banknotes, reflecting the Omani culture and heritage.

The products are made for both local and international consumption.

The project will contribute to the preservation of the environment and reduction of waste and pollution; leading to maintaining the ecological balance which has been an integral part of Oman’s Sustainable Development Goals (SDGs).

The idea of this project was originally proposed by Mohammed al Riyami, a CBO employee, who won the first place in “Kharij Al Sundooq Competition” or “Out of the Box Competition”.

This competition was held at CBO in 2019 to promote innovation and support creative employees. –ONA