To: All Licensed Banks Operating in the Sultanate of Oman

Subject: Bank Charges

After Compliments,

1. Attention of licensed banks is drawn to circular letter BA&DD/CBS/CB/ 99/1293 dated 8 June 1999 enjoining upon banks to critically examine the high level of charges levied by banks on their customers and take suitable remedial action.

2. In pursuance of the review undertaken by the Central Bank of Oman, it has been decided to stipulate the following ceilings, to be effective from the date of this Circular, in respect of certain charges being made by banks.

   • i) Personal Loans:

   • Types of Charges	Maximum Charges in RO
     Charges for topping up or rescheduling of an existing loan	10
     Installment Waiver charges that could be levied only if the installment is waived at the request of the customer (No charges shall be levied if the Bank is offering this as a gesture on various occasions such as Eid, National Day, etc.)	5
     Charges for pre-payment or pre-closure of the loan before the actual due date (No charges shall be levied if the outstanding balance as on the date of pre payments is RO 50,000 or below)