To: All the Licensed Banks and Finance and Leasing Companies Operating in the Sultanate of Oman

After Compliments,

Subject : AML/ CFT Off-Site Surveillance Framework

The Central Bank of Oman (CBO), being the regulator, has a responsibility to ensure that all licensed financial institutions fulfil their obligations to assess the risks of Money Laundering and Terrorism Financing (ML/ TF) and maintain sound risk management of ML/ TF, not only to protect their own safety and soundness but also to protect the integrity of the financial system in the Sultanate of Oman.

Therefore, we invite your attention to the development of Off-site Surveillance Framework of Anti-Money Laundering and Combating the Financing of Terrorism (AM / CFT) that will help in obtaining necessary information from financial institution to understand ML/ TF risks. This framework has been developed aft er necessary consultation with relevant stakeholders.