To: All Finance & Leasing Companies Operating In Sultanate of Oman

After Compliments,

The Central Bank of Oman (CBO) on review of the existing activities of Finance and Leasing Companies (FLCs), has decided to authorize FLCs to carry out the following additional business activities, including amending certain existing conditions applicable to permitted activities as detailed below:

1. Acceptance of Deposits

   In partial modification to the conditions stipulated in circular FM 18 dated 22nd November 2005, Point (9) of Circular FM 19 dated 11 th February 2016/2006, 729 circular dated 071h letters February 3 BDD/IBS/FLC/2016 03 and BDD/IBS/FLC/2018/ 181 dated 03rd April 2018.

   • a. Deposits shall be accepted only from Corporates, with minimum deposit size of OMR 5,000 (OMR Five Thousand only).

   • b. Deposits shall be in Omani Riyal.

   • c. FLCs are allowed to accept/renew deposits for a minimum period of three months and maximum period of 60 months. They cannot accept deposits repayable on demand.

   • d. Outstanding deposits at any point of time shall not exceed the net worth of the FLC.