Category: Royal Decree

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

the System of the Administrative Apparatus of the State promulgated by Royal Decree 75/2020,

and the Banking Law promulgated by Royal Decree 2/2025,

and in pursuance of public interest,

have decreed as follows

Article I

The Central Bank of Oman hereby has legal personality, and enjoys financial and administrative independence, in a manner that guarantees to it practising its tasks, functions, and works as well as achieving its objectives. The provisions of the following system hereby apply in its regard.

Article II

The headquarters of the Central Bank of Oman and its primary safes must be in the Governorate of Muscat, and it is permitted to establish branches, safes, offices, and other facilities within the Sultanate of Oman or aboard by a decision by the Board of Directors of the Central Bank of Oman to perform its tasks, functions, and works.

Article III

The organisational structure of the Central Bank of Oman is hereby adopted in accordance with the attached annex. The creation, modification, and abolishment of administrative divisions in the structure must be by a decision by the Governor of the Central Bank of Oman after the approval of the board of directors of the bank and the competent entities.

Article IV

The phrases “board of governors” and “executive president,” wherever they occur in laws and royal decrees, are hereby replaced with the phrase “board of directors” and “governor” as the case may be.

Article V

All that is contrary to this decree and the attached system, or in conflict with their provisions, is hereby repealed.

Article VI

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

Issued on: 1 Rajab 1446
Corresponding to: 1 January 2025

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1578 issued on 5 January 2025.

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

the Commercial Law promulgated by Royal Decree 55/90,

the Banking Law promulgated by Royal Decree 114/2000,

the Law of Anti-Money Laundering and Counter-Terrorist Financing promulgated by Royal Decree 30/2016,

the National Payments Systems Law promulgated by Royal Decree 8/2018,

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

and the Bankruptcy Law promulgated by Royal Decree 53/2019,

and in pursuance of public interest,

have decreed as follows

Article I

The provisions of the attached Banking Law hereby apply.

Article II

The Central Bank of Oman shall issue the regulations, decisions, instructions, and circulars necessary for the implementation of the provisions of the attached law, and until they are issued, the existing regulations, decisions, instructions, and circulars continue to operate to the degree that they do not contradict with the provisions of the attached law.

Article III

Licences, permits, and approvals issued by the Central Bank of Oman before the entry into force of the attached law continue to operate until the expiry of their duration, and their renewal must be in accordance with its provisions. All activities and operations of those to whom such licences, permits, and approvals are issued are subject to the provisions of the attached law and the regulations and instructions of the Central Bank of Oman, and they shall rectify their status in accordance with its provisions within a period of 6 (six) months from the date of its entry into force. The Board of Directors of the Central Bank of Oman may extend it for other periods not exceeding two times.

Article IV

The aforementioned Banking Law promulgated by Royal Decree 114/2000 is hereby repealed, as well as all that is contrary to the attached law, or in conflict with its provisions.

Article V

This decree must be published in the Official Gazette, and comes into force on the day following the date of its publication.

Issued on: 1 Rajab 1446
Corresponding to: 1 January 2025

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1578 issued on 5 January 2025.

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

and the Financial Law promulgated by Royal Decree 47/98,

and after presentation to Majlis Oman,

and in pursuance of public interest,

have decreed as follows

Article I

The General Budget of the State for Fiscal Year 2025 is hereby ratified in accordance with the attached schedules.

Article II

All units of the administrative apparatus of the state and other public legal persons shall implement the provisions of this decree each within its competence.

Article III

This decree must be published in the Official Gazette and comes into force on 1 January 2025.

Issued on: 1 Rajab 1446
Corresponding to: 1 January 2025

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1578 issued on 5 January 2025.

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

and the Framework Agreement for the Establishment of Private Sector Operations Between the Sultanate of Oman and the OPEC Fund for International Development (OPEC Fund) signed in Washington DC on 23 October 2024,

and in pursuance of public interest,

have decreed as follows

Article I

The aforementioned agreement is hereby ratified in the form attached.

Article II

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

Issued on: 29 Jumada Al-Akhira 1446
Corresponding to: 31 December 2024

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1578 issued on 5 January 2025.

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

and the Income Tax Law promulgated by Royal Decree 28/2009,

and in pursuance of public interest,

have decreed as follows

Article I

The provisions of the attached Law of the Top-Up Tax on Constituent Entities of Multinational Groups hereby apply.

Article II

The Chairman of the Tax Authority shall issue the executive regulation of the attached law and shall also issue the necessary regulations and decisions for implementing its provisions.

Article III

All that is contrary to the attached law, or in conflict with its provisions, is hereby repealed.

Article IV

This decree must be published in the Official Gazette, and comes into force on 1 January 2025.

Issued on: 29 Jumada Al-Akhira 1446
Corresponding to: 31 December 2024

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1578 issued on 5 January 2025.

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

and the Air Services Agreement between the Government of the Sultanate of Oman and the Government of the Republic of Uganda signed in the city of Kuala Lumpur on 23 October 2024,

and in pursuance of public interest,

have decreed as follows

Article I

The aforementioned agreement is hereby ratified in the form attached.

Article II

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

Issued on: 23 Jumada Al-Akhira 1446
Corresponding to: 25 December 2024

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1577 issued on 29 December 2024.

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

and the Air Services Agreement between the Government of the Sultanate of Oman and the Government of the Republic of Suriname signed in the city of Kuala Lumpur on 23 October 2024,

and in pursuance of public interest,

have decreed as follows

Article I

The aforementioned agreement is hereby ratified in the form attached.

Article II

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

Issued on: 23 Jumada Al-Akhira 1446
Corresponding to: 25 December 2024

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1577 issued on 29 December 2024.