We, Qaboos bin Said, the Sultan of Oman
after perusal of the Basic Statute of the State promulgated by Royal Decree 101/96,
and in pursuance of public interest,
have decreed as follows
The provisions of the attached System of Escrow Account for Real Estate Development Projects shall apply.
The Minister of Housing—after coordination with the Ministry of Tourism and the Central Bank of Oman—shall issue the regulation and decisions necessary for the implementation of the provisions of this system.
This decree shall be published in the Official Gazette, and comes into force after 6 (six) months from the date of its publication.
Issued on: 3 Rabi Al-Awwal 1440
Corresponding to: 11 November 2018
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 1268 issued on 18 November 2018.