To: All Licensed Banks

Subject: Oman Sultani Decree No. 9/1995 Issuing the Law Regulating the Bank Deposits Insurance Scheme - Clarifications on Certain Points Raised by Member Banks

After Compliments,

After examining the points raised by some of the Member Banks the following clarifications are given for facilitating the smooth and expeditious implementation of the Oman Sultani Decree No. 9/1995:

1. The initial amount of premium is payable by Member Banks for the period of 9 months of 1995 commencing from the month of April 1995 till December 1995 (both months inclusive). Thereafter computation should be made for the full year (i.e. starting from this year 1996).

2. For the purpose of computation of premium “Total Deposits” will mean only Insured Deposits i.e. those deposits which are eligible for insurance coverage in terms of Article 14 A of the BDIS Law.