To: All Commercial Banks & Specialised Banks

Subject: Government Development Bonds

Further to our Oman Central Bank Circular No. BM615/1991 dated July 3, 1991, and the deliberations held on July 7, 1991, on the above subject:

Banks are hereby informed that the first issue of Development Bonds shall be opened for subscription during the period from 20th July 1991 to 31st July 1991. Banks are required to follow the following procedures in accepting and forwarding the applications for purchase of the Government Bonds.

1. Banks are required to accept applications in the prescribed form for the Development Bonds from all the eligible investors and forward them to Central Bank of Oman before the closing date set above, along with their own applications.

2. Banks should verify the Account Number and the signature of the Applicants authorizing to debit their account and block the amounts in their customer's respective account.

3. The Central Bank will debit the amount of Bonds allotted to the individual banks and their customers to the clearing account of the concerned banks maintained with the CBO on the date of issue.