Regulatory Alerts2022-06-21
Added · Updated
Central Bank Instructions No. 6 of 2022 Regarding Service Fees
The Central Bank of Oman issued Instructions No. 6 of 2022, effective March 31, 2022, establishing specific service fees for insurance service providers and applicants. The document mandates fees of ten dinars for certificates and certifications, and sets review fees at twenty-five or fifty dinars for applications involving senior employees, general managers, license additions, branch openings, and re-registration. These instructions repeal the previous Service Fees Instructions No. 10 of 2004 and apply to entities such as agents, brokers, loss adjusters, and banks practicing banking insurance activities.
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