To: All Locally Incorporated Banks

After Compliments,

Sub: Dividend Payments by Banks

As banks are aware, in terms of the provisions contained in Article 72(a) of Oman Sultani Decree No. 114/2000, the Banking Law 2000, the Central Bank has been empowered to establish the procedures for submission of the financial statements by banks, audited by independent auditors. The procedures have been established vide Circular BM 771 dated October 23, 1995, which also provides for the banks to seek the prior approval of the Central Bank before declaring any dividends.