To: All Licensed Banks

Subject: Execution of ASCD Decisions

As per Oman Sultani Decree No. 73/1990 the Honourable Authority for the Settlement of Commercial Disputes is vested with the necessary powers required for the execution of its decisions. This includes, interalia, enforcement against what a debtor has with third parties.

It is a legal requirement that all concerned, including licensed banks, shall give the necessary assistance to the Honourable Authority in relation to execution.

In this context you are kindly advised that the Authority may approach any bank, upon the request of a judgment creditor for the attachment of any account related to a customer (debtor) against whom a decision has been issued by the Authority. The bank should immediately implement the attachment instructions without recourse to the Central Bank of Oman, and inform the Authority with the steps taken regarding the attachment.

It is important to note that in case a bank does not implement such instructions received from the Authority, then according to law, this bank could face court proceedings as deemed necessary by the Honourable Authority.