The new bankruptcy law of oman shall come into effect on july 1st 2020, which was until now dealt by the commercial law and commercial companies law.

Bankruptcy is one of the most serious and tough situations a business can experience, and this difficulty extends and affects more than those in charge.

Issuing the Executive Regulations of Sultani Decree No. 31/96 on determining the rules for investing the funds of the Public Authority for Social Insurance and pension funds.

Although there is no separate bankruptcy law in Oman, both the Commercial Code of 1990 and the Commercial Companies Law of 1974 provide a framework for the bankruptcy of traders and liquidation of insolvent companies.

2022 saw a full host of legal and regulatory updates announced in the Sultanate of Oman, aimed at achieving the objectives set out in the 10th Five Year Plan (2021 – 2025).