Oman Central Bank Circular No. BM829/1997
Oman Regulation No. BM 41/10/1997 Regarding the Opening of Branches/Representative Offices Abroad by Licensed Domestic Commercial Banks in Oman
To: All licensed Banks Operating in the Sultanate of Oman
Subject: Oman Regulation No. BM 41/10/1997 Regarding the Opening of Branches/Representative Offices Abroad by Licensed Domestic Commercial Banks in Oman
After Compliments,
Attached pleased find a copy of the Oman Regulation No. BM 41/10/1997 published in the official Gazette No 611 dated 15 November 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 41/10/1997 - The Opening of Branches/Representative Offices Abroad by Licensed Domestic Commercial Banks in Oman
Pursuant to the provisions of Article 2-1.09(n) and Article 2-1.10*[1] of Oman Law No. 7/1974 and in accordance with Oman Decision No. 1107/98/6/1997/12 of the Board of Governors at its meeting held on 23 June 1997, the following has been decided.
Article 1
No domestic licensed commercial bank shall open a branch or representative office abroad without obtaining prior approval of the Central Bank of Oman.