Muscat – His Majesty King Haitham bin Tariq on Wednesday issued two royal decrees:
Royal Decree No. 47/2024 promulgates the Law on the Protection of Bank Deposits after submission to the Omani Council.
Article 1 stipulates the enforcement of the Act on Protection of Bank Deposits attached to this Cabinet Order. Article 2 states that all origins, rights, obligations and assets related to the Bank Deposit Insurance System cited in the Bank Deposit Insurance System Law promulgated by Royal Decree No. 9/95 shall be “for the protection of the people. “Insurance Fund”. Deposits in licensed establishments of conventional origin cited in the law annexed to this Decree”. Article 3 directs the Governor of the Central Bank of Oman to issue the enforcement regulations of the attached law and the decisions necessary to implement its provisions. Until that time, existing regulations and decisions will continue to be implemented without prejudice to the provisions of the law attached to this Decree. Article 4 repeals everything inconsistent with or contrary to the provisions of the aforementioned Bank Deposit Insurance Scheme Law promulgated by Royal Decree No. 9/95 and the attached laws. Article 5 provides that this Decree shall be published in the Official Gazette and shall come into force from the day following its promulgation.
Royal Decree No. 48/2024, signed in Muscat on June 26, 2024, establishes an agreement between the Government of Oman and the Government of the Republic of Uzbekistan on reciprocal visa exemption for holders of diplomatic passports, special passports and service passports. I ratify.
Article 1 ratifies the aforementioned agreement in accordance with the version attached to this Decree. Article 2 provides that this Decree shall be published in the Official Gazette and shall come into force from the date of promulgation.
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