Oman Central Bank Circular No. BM286/1980
Oman Regulation No. BM/REG/019/3/1980-2-1.09
Subject: Oman Regulation No. BM/REG/019/3/1980-2-1.09
Central Bank of Oman – Oman Regulation No. 19/3/1980 issued by the Board of Governors concerning the Maintenance of Foreign Exchange Positions by licensed banks.
With reference to the Oman Law No. 7/1974, Banking Law especially Article 2-1.09(l) and (n)*[1]
The Board of Governors of the Central Bank decided the following :
Article 1
Licensed banks are not allowed to take positions in Foreign Exchange except within the limits and conditions prescribed by the Central Bank.
Article 2
The limits may be expressed as a ratio of Bank’s capital and reserves within the Sultanate.
Article 3
The President of the Central Bank is hereby authorised to issue instruction for the implementation of this Regulation.
Article 4
This Regulation shall be published in the Official Gazette.
19-04-1980
Dr. Abdul Wahab Khayata
President and Deputy Chairman