To: All Banks Operating in the Sultanate of Oman

Subject: Employment of Persons Who Have Residence Visas Sponsored by Others

1. It has come to the knowledge of the Central Bank of Oman that certain banks have employed persons whose residence visas have been sponsored by others.

2. All banks are hereby informed that the above practice is a flagrant violation of Article 105 of the Labour Law of the Sultanate of Oman and that any offenders are liable to the penalties prescribed in Article 103 and 105 of the said Law as amended by Oman Sultani Decree No. 32/1993 published in Official Gazette No. 504 of 5th June 1993.

3. All banks should also note that, in addition to the penalties prescribed under the Labour Law of Oman, any offending banks will also be liable to sanctions stipulated in the Banking Law 1974 and regulations framed thereunder.

4. All banks should comply accordingly.