To: All Licensed Banks operating in the Sultanate of Oman

Subject: On-Site Banking Facility – Licence Fees

Reference is invited to Oman Central Bank Circular No. BM729/1994 dated June 28, 1994, Oman Central Bank Circular No. BM731/1994 dated July 24, 1994, and Oman Central Bank Circular No. BM881/2000 dated January 19, 2000.

The Central Bank of Oman has since decided that for and subsequent to the year 2000, licensed banks shall pay an annual license fee of RO 250/- for each On-site Banking Facility licensed by the Central Bank. Facilities engaged in cash collection at Ministries and other Government offices are exempted from the above fee.

The Central Bank takes this opportunity to reiterate in this connection that all the above facilities, including cash collection counters, shall be subject to the prior approval procedures/formalities laid down without any exception whatsoever.

The Central Bank expresses that all the approved units shall conform to the terms and conditions of approval, including adherence to the stipulated scope of business. Any violations, thereof, if found in the course of examination of these faculties or otherwise, will be appropriately dealt with.