Oman Central Bank Circular No. BM1002/2006
Basis for Interest Calculation
Type
Regulatory
Agency
Oman Central Bank
Issued on
18 Apr 2006 (corresponding to 20 Rabi Al-Awwal 1427 H)
Jurisdiction
Oman
Taxonomy
Banks, Financial Services & Activities, Financial Institutions
To: All Licensed Banks, Finance and Leasing Companies, Money Changers Operating in the Sultanate of Oman
After Compliments,
Re: Basis for Interest Calculation
Further to our Circular BM 1000 dated 15TH April 2006 on the above subject, please note the following clarification.
The 365-days basis for calculation of interest would be applicable on all financial instruments involving Rial Omani transactions only.
Best Regards,
Hamood Sangour Al Zadjali
The Executive President