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Ministerial Decision

Ministry of Commerce, Industry, and Investment Promotion: Ministerial Decision 386/2022 regarding the Provision of the Electronic Payment Service to Consumers

Arabic Toolkit

Based on the Commercial Law promulgated by Royal Decree 55/90,

the Commercial Companies Law promulgated by Royal Decree 18/2019,

and Royal Decree 97/2020 Amending the Name of the Ministry of Commerce and Industry to the Ministry of Commerce, Industry, and Investment Promotion, Determining Its Competences, and Adopting Its Organisational Structure,

and in pursuance of public interest,

it is hereby decided

Article I

Commercial establishments and companies operating in the activities mentioned in the annex attached to this decision shall provide electronic payment service to all consumers.

Article II

The ministry may, when the provisions of this decision are violated, impose any of the following administrative penalties:

1. Warning and requiring the violator to provide electronic payment service within a period not exceeding 20 (twenty) days.

2. An administrative fine of 100 (one hundred) Rial Omani.

Article III

This decision shall be published in the Official Gazette, and comes into force after 30 (thirty) days from the date of its publication.

Issued on: 12 Ramadan 1443 Corresponding to: 14 April 2022

Qais bin Mohammed bin Moosa Al-Yousef Minister of Commerce, Industry, and Investment Promotion

Published in Official Gazette 1438 issued on 17 April 2022.


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Categories
Consolidated Regulation

The Regulation Governing Clearing and Settlement (Consolidated)

ISSUED BY CONSOLIDATED UP TO
CMA Decision 75/2022 FSA Decision 127/2024

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Categories
Ministerial Decision

Capital Market Authority: Decision 75/2022 Issuing the Regulation Governing Clearing and Settlement

Arabic Consolidated Text

Published in Official Gazette 1438 issued on 17 April 2022.

Categories
Intel

Case Summary: Supreme Court (Civil Circuit A) Contestation 370/2021 (Invalidity of Fixed-Profit Agreement Between Individuals)

The Supreme Court held that an agreement between two natural persons where one individual guarantees fixed profits to another constitutes usury (riba) and that such agreement is void for violating public order.


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Categories
Ministerial Decision

Oman Medical Specialty Board: Decision 13/2022 regarding Determining the Fees for Services Provided by the Oman Medical Specialty Board

Arabic Auto Translate

Published in Official Gazette 1438 issued on 17 April 2022.

Categories
Ministerial Decision

Ministry of Interior: Announcement regarding the Member Replacing the Member Representing the Wilayat of Salalah

Arabic Auto Translate

Published in Official Gazette 1438 issued on 17 April 2022.

Categories
Royal Decree

Royal Decree 13/2022 Reinstating Omani Nationality

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

and the Omani Nationality Law promulgated by Royal Decree 38/2014,

and in pursuance of public interest,

have decreed as follows

Article I

Omani nationality is hereby reinstated to those named in the attached list.

Article II

This decree shall be published in the Official Gazette, and comes into force on the date of its issuance.

Issued on: 28 Sha'ban 1443Corresponding to: 31 March 2022

Haitham bin TarikSultan of Oman

Published in Official Gazette 1436 issued on 3 April 2022.


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Categories
Ministerial Decision

Ministry of Commerce, Industry, and Investment Promotion: Ministerial Decision 329/2022 Determining the Return for Obtaining a Commercial Debt or Loan

Arabic Based on the Commercial Law promulgated by Royal Decree 55/90, and the letter of the Oman Chamber of Commerce and Industry, and in pursuance of public interest,

it is hereby decided

Article I

The return for obtaining a commercial loan or debt is hereby determined at a rate of 6% (six percent), unless a lesser rate is agreed. The Minister of Commerce, Industry, and Investment Promotion may—in each case separately—agree with the Oman Chamber of Commerce and Industry to exceed this percentage, in the event that the term of the loan is long, its purpose relates to projects that contribute to achieving economic development, or the degree of risk is high.

Article II

The provisions of article I of this decision do not apply to loans provided by banks, financing companies, and companies for leasing assets licensed by the Central Bank of Oman.

Article III

This decision shall be published in the Official Gazette, and is applicable for one year from the date of its publication. Issued on: 28 Sha’ban 1443 Corresponding to: 31 March 2022

Qais bin Mohammed bin Moosa Al-Yousuf Minister of Commerce, Industry, and Investment Promotion

Published in Official Gazette 1437 issued on 10 April 2022.

Categories
COVID-19 Supreme Committee

COVID-19 Supreme Committee Decision of 29 March 2022

Arabic Download

Note: The following text is a public domain translation published by the Official OmanVsCovid19 Twitter account.

Statement of the Supreme Committee

As part of its ongoing convening, the Supreme Committee tasked with tackling developments resulting from coronavirus (Covid-19) pandemic followed up recent updates about the pandemic and reviewed means of protection against the disease and ways to curb the spread of the virus.

Upon the advent of the holy month of Ramadan, Covid-19 Supreme Committee took the opportunity to greet His Majesty Sultan Haitham bin Tarik, Omani citizens and residents in the Sultanate of Oman, as well as the Arab people and Islamic nation. The panel wished all good health and abundant bounties and blessings.

The Supreme Committee studied the epidemiological situation in the local front and international arena. It noted the decline in cases of infection and hospitalization in the Sultanate of Oman at a time the rates of Covid-19 infections are again picking up in some countries of the world.

As the pandemic persists worldwide upon the approach of the holy month of Ramadan and, in realization of Islam’s edicts calling for safeguarding human life and, to maintain the gains made over the past period, Covid-19 Supreme Committee took the following decisions which, it said, have to be endorsed throughout Ramadan:

– First: Attendance at Taraweeh congregational prays has to be exclusively limited to worshippers who received two-dose vaccination against Covid-19. Unvaccinated people, including children aged below 12 years, are prohibited to enter the mosques during the said period.

– Second: Mass gatherings for charity breakfast meals (Iftar Sa’im) continue to be banned in mosques and other public places, including tents and public assembly halls. Charity teams and private establishments concerned, including civil society institutions, may distribute the meals to target beneficiaries, but without organising gatherings.

– Third: All members of the public have to continue observing precautionary protective measures, including wearing face masks and maintaining physical distance in closed areas, including mosques.

Covid-19 Supreme Committee also underscores the need to continue operation of collective activity venues—like halls, conference places, local and international exhibitions and other mass activity areas—to a maximum of 70% capacity of the said venues.

In the meantime, the committee urged all those who feel any symptoms of Covid-19 infection to avoid attending congregational prayers or entering public gathering areas, to help protect themselves and their society.

The panel also advised Omani citizens and residents in Oman to take the Covid-19 booster dose as soon as possible, notably those whose second dose vaccination lasted more than 6 months. It added that the booster dose would bolster individual and communal immunity.

Categories
Intel

Case Summary: Supreme Court (Civil Circuit A) Contestation 654/2020 (Binding Nature of a Promise to Lease)

The Supreme Court ruled that a promise to lease constitutes a binding contract under article 72 of the Civil Transactions Law. In this case, the Supreme Court ruled that the landlord is entitled to compensation for the losses incurred and the profits lost from a potential tenant who breached his promise to lease the property even though no contract was signed.


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