We, Qaboos bin Said, the Sultan of Oman
after perusal of the Banking Law of 1974,
and in pursuance of public interest,
have decreed as follows
Article 1
The authorised capital of the Central Bank of Oman is hereby increased to five million Rial Omani, provided that the paid-up capital is set at five million Rial Omani.
Article 2
The following paragraph is hereby added to the end of the text of Article 2.03(3) of the mentioned Banking Law of 1974.
The capital of the Central Bank may be increased by transferring this increase from the general reserve of the bank to the capital.
Article 3
All relevant entities shall implement this decree.
Article 4
This decree must be published in the Official Gazette, and comes into force on the date of its publication.
Issued on: 9 Sha’ban 1397
Corresponding to: 26 July 1977
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 130 issued on 1 August 1977.