We, Qaboos bin Said, the Sultan of Oman
after perusal of the Basic Statute of the State issued by Royal Decree 101/96,
the Banking Law 7/74 and its amendments,
and Royal Decree 64/83 Establishing the Omani Banking Institute and its amendments,
and in pursuance of public interest,
have decreed as follows
Article I
The name of the “Oman Banking Institute” stipulated in article I of the mentioned Royal Decree 64/83 is hereby amended to the “Banking and Financial Studies Institute.”
Article II
The text of article IV of the mentioned Royal Decree 64/83 is hereby replaced with the following text:
The board of directors of the institute must be formed of:
– Representatives of the Central Bank of Oman appointed by the deputy chairman of the board of governors, one of whom is the chairman of the board and the other the deputy chairman, and the membership of:
– A representative of the Ministry of Higher Education.
– A Representative of the Ministry of Social Affairs, Labour, and Vocational Training.
– Four representatives of banks.
– The director general of the institute or his deputy—Secretary.
Article III
All relevant entities shall implement the provisions of this decree, each within its mandates.
Article IV
This decree must be published in the Official Gazette, and comes into force from the date of its publication.
Issued on: 11 Sha’ban 1419
Corresponding to: 30 November 1998
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 636 issued on 1 December 1998.