All Licensed Banks operating in the Sultanate of Oman

After Compliments,

Re: Master Circular on Bank Branch Licensing Policy and Procedures

1. Introduction

   The Board of Governors, in recognition of the fairly well-spread network of bank branches in Oman earlier policies and practices have brought about and the need to provide reasonable operational flexibility for banks to meet the demands of the dynamic and developing market and enhance competitive efficiency, have decided to adopt a liberalized branch licensing policy, bereft of existing linkage requirements for branches in banked areas.

2. Scope

   The following, accordingly, sets out the new licensing policy and related aspects on bank-branches in Oman, consolidating/super ceding the contents of Circulars BM 84 dated 6 February 1977, BM 376 dated 13 June 1983, BM 509 dated 13 June 1988 and BM 748 dated 8 January 1995.

3. Licensing Policy

   Licensed banks, henceforth, are free to open branches anywhere in the Sultanate of Oman without any linkage requirement. However, the prior approval process shall remain.