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At the start of 2025, Oman made sweeping changes to modernise its banking law, which included the promulgation of a new Banking Law.

In a significant move to support Oman's financial outlook, the recent issuance of the Royal Decree 20/2024 establishing the Financial Services Authority...

Continuing the suspension of permits for the temporary recruitment of non-Omani manpower in certain professions.

Attracting investments, including foreign direct investments, hold significant importance for the economy of every country. Regulatory frameworks for banks and banking practices play a crucial role in this regard.

Post-dated cheques (PDCs) have long served as a key repayment and security instrument in Oman's lending market. However, the introduction of the National Payment Systems Law issued by Royal Decree...

The banking business is an extremely vital activity in any economy and banks have a primary and synergist task to carry out

The most used Islamic finance products, for provide financing by Islamic banks in Oman are Murabaha, Diminishing Musharaka and Wakala.

On the 1st of January 2025, Oman enacted a new Banking Law under Royal Decree 2 of 2025 ("New Banking Law"), which repeals and replaces the previous Banking Law established by Royal Decree 114 of 2000.

Royal Decree no. 33/2018 issuing the Regulations for Implementation Support and Follow-up Unit.

The following Q&A, originally published for Lexis Middle East, answers important questions regarding the laws and regulations governing Banking in Oman.