Oman Sultani Decree No. 47/2024 Promulgating the Bank Deposit Protection Law
Abrogates
Oman Sultani Decree No. 9/1995 dated 26/03/1995
We, Haitham bin Tarik, Sultan of Oman,
After perusal of the Basic Statute of the State;
The Law of the Bank Deposit Insurance Scheme promulgated by Oman Sultani Decree No. 9/1995;
The Banking Law promulgated by Oman Sultani Decree No. 114/2000;
Upon submitting the proposal to the Council of Oman; and
Based on the public interest requirements,
Have decreed the following:
Article 1
The provisions of the attached Bank Deposit Protection Law shall enter into effect.
Article 2
All the assets, rights, obligations, and holdings of the Bank Deposit Insurance Scheme stipulated in the aforementioned Law of the Bank Deposit Insurance Scheme promulgated by Oman Sultani Decree No. 9/1995 shall be transferred to the Insurance Fund for Deposit Protection in Conventional Licensed Establishments established by virtue of the attached law.