To: All Licensed Banks operating in the Sultanate of Oman

After Compliments,

Subject: Launch of Automated Clearing House – Usage

One of the primary objectives of a central banking institution, worldwide, is ensuring financial stability of the economy. Payment Systems of a country have a major bearing on the state of its financial stability. The degree of robustness underlying the state of financial stability has very much to draw from the state of payment systems of the country. More developed i.e. more organized, transparent, efficient, robust, and secure the payment systems are, less risk do they pose to financial stability. More efficient payment systems also promote the efficient circulation of money and thus complement the economic growth.

Guided by the above primary considerations as also the internal and external pressures to comply with international standards for payment and securities systems, all progressive countries are on the path to improving their payment and settlement systems that beget international acceptance.