Country Manual Credits
Oman – Update 2025
out of Credit Institution’s Country of Establishment (RT, BT & Def)
| Source of changes | Answers |
|---|---|
| Law / Regulation | Yes |
| New Position of the Authorities | No |
| Evolution of Expert’s Interpretation | No |
Regulatory Template, Behaviour Template and Definitions and Concepts
Material changes
A new banking law was (Royal Decree 2/2025, the “Banking Law”) was introduced on 1 January 2025 and repealed the previous banking law (Royal Decree 114/2000, the “Old Banking Law”). In the context of this Country Manual Credits, there are no changes in approach or practice as a result of the Banking Law coming into effect that affect the answers given in the template. Article 50 of the Banking Law covering licensing contains, essentially, identical provisions to those in Article 50 of the Old Banking Law. The regulatory references and sanctions sections in the RT have been updated to reflect the change in law.
There have been no substantive amendments to Omani customer protection laws since the last version of the Country Manual. The Consumer Protection Authority has issued a number of decisions since then, but they are not related to the provision or marketing of financial services in Oman.
Non-material changes
There have been some minor changes to the wording of certain comments in the BT. The tax section in the RT has been reviewed and updated.
Definitions and Concepts
The document Definitions and Concepts includes a Concordance Table. This Table is designed to help the users of the Country Manual Credits easily recognize existing or potential interactions between the rules of different types of credits.
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Geneva, May 5th 2025