To: All Licensed Banks

Subject: Definition of Cheque in the New Commercial Code

The Oman Law No. 55/1990 issued the new Commercial Code which will be implemented shortly.

Article 523 of Oman Law No. 55/1990 the Commercial Code provides that the word “Cheque” shall be printed on the cheque document with the same language used in the document.

Article 524 of Oman Law No. 55/1990 the Commercial Code provides that a document shall not be defined as a cheque if any of the particulars, including the word “cheque”, mentioned in Article 523 of Oman Law No. 55/1990 is not available.

All Banks are hereby advised to ascertain the availability of all the particulars mentioned in Article 523 of Oman Law No. 55/1990, and particularly the word “cheque”, in the cheques they issue.

This circular shall be implemented as soon as possible.