To: All Licensed Banks

Subject: Regulation about introducing a facility for Lending Banks on the strength of Promissory Notes held by them with one signature in addition to the signature of the Licensed Bank.

Annexed please find a copy of Oman Regulation No. BM/REG/31/3/1989 published in the Official Gazette No. 403 dated March 15, 1989 covering the Board of Governors of the Central Bank of Oman, Oman Decision No. 581/56/3/1989 taken in its meeting held on March 13, 1989.

This Regulation is considered effective as of April 14, 1989. Banks may apply for the use of this facility as from the said date.

The ratio of one signature Promissory Notes which may be accepted for rediscount cannot exceed 60% of the discount ceiling for each bank.