We, Qaboos bin Said, the Sultan of Oman
after perusal of Royal Decree 26/75 Issuing the Law Governing the Administrative Apparatus of the State and its amendments,
and Royal Decree 51/77 Establishing Oman Housing Bank,
and in pursuance of public interest,
have decreed as follows
Article 1
The text of article 9 of Royal Decree 51/77 referred to above is hereby amended to read as follows:
The Oman Housing Bank is exempted from all the provisions of chapter three of part four of the Banking Law of 1974, as well as from the provisions of articles 4-06.4 and 4-05.4(d) of chapter four of the same mentioned law, and from all other laws that conflict with the provisions of this decree.
Article 2
All relevant entities shall implement this decree.
Article 3
This decree must be published in the Official Gazette, and comes into force on the date of its publication.
Issued on: 18 Rabi Al-Thani 1398
Corresponding to: 27 March 1978
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 144 issued on 1 April 1978.