To: All Licensed Commercial Banks operating in the Sultanate of Oman

Subject: The Opening of Branches/Representative Offices Abroad by Licensed Domestic Commercial Banks in the Sultanate of Oman

After Compliments,

1. The kind attention of concerned banks is drawn to Article 2 of Oman Regulation No. BM/REG/41/10/1997 (Oman Central Bank Circular No. BM829/1997 of 29 November 1997 refers) whereby application fees for the opening of branches/ representative offices abroad by licensed commercial banks were determined as RO 2,500/- for opening of the first bank branch office in any foreign country, RO 500/- for opening of an additional bank branch in the same country and RO 500/- for opening of a representative office abroad.

2. Pursuant to a Resolution adopted by the Board of Governors at their Meeting held on 19 December 1999 it is, hereby, advised that with effect from 1 January 2000 the following shall be payable as the stipulated application and annual licence fees in respect of all fully fledged branches/representative offices operated abroad by licensed domestic commercial banks.

   • a) Non-refundable Application Fee