To: All Licensed Banks/ Non-Bank Finance Companies and Money Exchange Companies Operating in the Sultanate of Oman

Subject: Enhancement of the Role of the Financial System in Combating Money Laundering

After Compliments,

1. Reference is invited to Oman Central Bank Circular No. BM610/1991 dated 5 June 1991 advising all financial institutions operating within the CBO’s jurisdiction to adopt certain measures, recommended by the Financial Action Task Force (FATF), so as to prevent the Sultanate’s banking system and the financial institutions being utilized for the purpose of money laundering.

2. In the light of growing global concern about the problem of money laundering threatening to undermine established systems and institutions, the Sultanate of Oman is placing greater emphasis in extending larger cooperation with other countries and international bodies in combating it. The Gulf Cooperative Council too, as a FATF member, plays a leading role in anti-money laundering initiatives within the Gulf region.