BM 1232 - Code of Conduct and Business Ethics for Banks and Financial Institutions — CBO — OM

Central Bank of Oman

Circular BM – 1232

Classification: General
Date: 6 July 2026

To: All Licensed Banks
Finance and Leasing Companies
Payment Service Providers
Money Exchange Establishments
Operating in the Sultanate of Oman

After compliments,

Subject: Code of Conduct and Business Ethics for Banks and Financial Institutions

A sound corporate culture, professional conduct and business ethics are fundamental to maintaining the integrity and soundness of the banking and financial sector, fostering high standards of professionalism, accountability and responsible business conduct among licensed banks and financial institutions.
As part of its ongoing efforts to strengthen governance and align with international best practices, the Central Bank of Oman has developed the 'Code of Conduct and Business Ethics for Banks and Financial Institutions'. The Code sets out the minimum principles and standards that licensed institutions should comply with.

Central Bank of Oman

Circular BM – 1232

Accordingly, all licensed banks and financial institutions shall develop, adopt, and implement internal policies and procedures on conduct and business ethics that are consistent with the principles set out in the Code. Such policies shall be commensurate with the institution's size, nature, complexity and scale of its operations, and shall be implemented no later than 30th June 2027.
All licensed banks and financial institutions shall comply with the provisions of this circular within the specified timeframe, without exception.

Best regards,

[Signature]

Ahmed Al Musalmi
The Governor

Encl: Code of Conduct and Business Ethics for Banks and Financial Institutions

[Signature]

Ahmed Al Musalmi
The Governor

Central Bank of Oman