To: All Licensed Banks operating in the Sultanate of Oman

After Compliments,

Re: Bank Charges

1. Attention of licensed banks is drawn to Circular BM 875 dated 20 October 1999.

2. In the light of representations from licensed banks on defraying expenses on technological improvements, the Central Bank has decided to permit licensed banks to make an annual levy of RO 1/- on Debit Cards issued already and on future issues.

3. The Central Bank advises banks to be diligent in the process, among others, by informing the account-holders duly, avoiding duplicate debits and giving the option of not having the Cards. It is clarified, that the levy is not mandatory and will be at the banks’ discretion (as a maximum) and that individual banks will decide in overall interests of the customers and themselves.

Best regards,