Oman Decision No. BM/58/4/2024 On Issuing the Regulation Concerning Money Service Businesses
Pursuant to the perusal of the Banking Law issued by Oman Sultani Decree No. 114/2000;
The Law of National Payment Systems issued by Oman Sultani Decree No. 8/2018;
Oman Regulation No. BM/43/11/97 concerning the Professions of Currency Exchange and Money Transfer;
The approval of the Board of Governors of the Central Bank of Oman; and
Based on the public interest requirements,
The following has been decided:
Article 1
The provisions of the attached Regulation shall apply in the matter of Money Service Businesses.
Article 2
The subjects of this attached Regulation shall regularise their statuses according to its provisions within six months from the date of its entry into force.
Licences issued before the implementation of this Regulation shall remain in effect until the expiration of their term, provided that they are renewed in accordance with its provisions.
Article 3
The Chief Executive Officer of the Central Bank of Oman shall issue the forms and instructions deemed necessary for the implementation of the annexed Regulation.