To: All Banks Operating in the Sultanate of Oman

Subject: Imposition of Fines on Deposits Received from Operating Banks

Further to our previous circulars and instructions regarding the enhancement of the quality of cash in circulation in Sultanate of Oman, and to ensure the existence of an appropriate mechanism for the operating banks to count and sort banknotes in accordance with the rules and regulations set by the Central Bank of Oman,

the Central Bank of Oman decided to impose fines on deposits received from operating banks that do not follow the rules and regulations set by the Central Bank of Oman and as per the attached Annexure.

The fines shall apply on deposits received from operating banks starting from the date: September 01, 2022.