The Bank Deposits Insurance Scheme
This booklet has been issued with the aim of increasing the awareness among the Banking Sector in relation to the applicable Law and Regulations governing the Bank Deposits Insurance Scheme (BDIS) operating in the Sultanate since 1995.
Foreword
It gives me great pleasure to present this Information Booklet on the Bank Deposits Insurance Scheme applicable in the Sultanate of Oman.
Central Banks, the world over, have long focused on enhancing financial stability and promoting public confidence in the financial sector, even more so in the aftermath of the recent financial crisis of 2008.
Deposit Insurance coverage is one step in boosting public confidence in the Banking System. To leverage these efforts further, the Sultanate has introduced the Bank Deposits Insurance Scheme as early as 1995 vide Oman Sultani Decree No. 9/1995.
The primary objective of the Scheme is to provide insurance cover for specific deposits, enhance financial stability, increase public confidence and encourage more savings.