To: All Licensed Banks Finance and Leasing Companies (FLCs)

Money Exchange Establishments (MEEs)

Payment Service Providers (PSPs)

Operating In the Sultanate of Oman

After compliments,

Subject: Whistle Blowing Channel to Report Unlicensed Banking Business and Payment Service/Operation

1. We invite reference to Article (5) of the Banking Law, Oman Sultani Decree No. 114/2000 defining Banking Business and Article (52) of the law that prohibits the conduct of any banking activity /business without obtaining license from the Central Bank of Oman and states the consequence of violating its provisions by incriminating the conduct of banking business/ activities without such license.

2. Also, Article (5) of the National Payment System Law, Oman Sultani Decree No. 8/2018 (NPSL) prohibits the conduct of activities relating to payment systems without obtaining license from the Central Bank of Oman. Article (56) of the NPSL provides for the punishment for non-compliance.