Oman modifies commercial banking laws

Oman said yesterday it has amended some of its commercial banking laws to meet the requirements of new economic developments.

A central bank statement said Omani commercial banks would be required to have a minimum capital of 20 million riyals ($52m) from a previous 10m riyals. It said foreign banks would be required to have a minimum capital of 3m riyals, but it did not specify the previous capital requirement.

The new laws also prohibit shareholders from owning or transferring more than ten p

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: