To: All Licensed Banks operating in the Sultanate of Oman

After Compliments,

Subject: Oman Switch

The Central Bank of Oman has been working with the two existing ventures Shamel and Al-Watani to integrate them into one joint venture called “Oman Switch”.

With great effort, Shamel and Al-Watani are merging and all its member banks will become the members of the new joint venture.

This is to draw the attention of all banks to the above subject. Please be advised that it is compulsory for those banks which are not members and having at least one ATM must join Oman Switch latest by 1st quarter of 2001.