Oman Central Bank Circular No. BM807/1997

Oman Regulation No. BM/REG/40/1996 Regarding Reorganization in the Control of Shareholding in Locally Incorporated Banks

To: All Licensed Banks operating in the Sultanate of Oman

Subject: Oman Regulation No. BM/REG/40/1996 Regarding Reorganization in the Control of Shareholding in Locally Incorporated Banks

Attached please ﬁnd a copy of the Oman Regulation No. BM/REG/40/1996 published in the Ofﬁcial Gazette No. 592 dated 1 February, 1997.

All Banks are required to adhere to the provisions of the said Regulation, which will come in force after one month from the date of publication in the ofﬁcial gazette.

Oman Regulation No. BM/REG/40/1996 - Reorganisation in the Control of Shareholding In Locally Incorporated Banks

Pursuant to Articles 2-1.09(n) and 4-2.06*^[1] of Oman Law No. 7/1974 and in accordance with Oman Decision No. BOG/1082/94/9/96/1916 of the Board of Governors of the Central Bank of Oman adopted at its meeting held on September 22, 1996 it has been decided as follows:

Article 1

The aggregate holding by an individual and his related parties shall not exceed 15% of the voting shares in a locally incorporated bank.