In a recent development in Muscat, His Majesty Sultan Haitham bin Tarik has issued nine Royal decrees that cover a wide range of topics and regulations. The first Royal Decree (No. 1/2025) ratifies the State’s General Budget for the Fiscal Year 2025 and instructs all government bodies to implement the provisions of the budget, effective from January 1, 2025. The second Royal Decree (No. 2/2025) focuses on the Banking Law and states that the Central Bank of Oman will enforce the regulations necessary for its implementation.
The third Royal Decree (No. 3/2025) covers the System of the Central Bank of Oman, giving the bank legal personality and financial independence to carry out its duties and achieve its objectives effectively. The fourth Royal Decree (No. 4/2025) appoints HH Sayyid Taimour bin Asa’ad bin Tarik Al Said as the Chairman of the Board of Directors of the Central Bank of Oman, along with other members of the Board.
The fifth Royal Decree (No. 5/2025) appoints Ahmed bin Ja’afar bin Salim Al Musallami as the Governor of the Central Bank of Oman. The sixth Royal Decree (No. 6/2025) amends certain provisions of the establishment of the College of Banking and Financial Studies. The seventh Royal Decree (No. 7/2025) appoints advisors in the Private Office, while the eighth Royal Decree (No. 8/2025) approves the organizational structure of the Royal Court Affairs.
Lastly, the ninth Royal Decree (No. 9/2025) promotes Brigadier Dr. Saif bin Zahir bin Saif Al Salmi to the rank of Major General and appoints him as the Head of the Special Medical Affairs Unit at the Royal Court Affairs. These Royal decrees cover various aspects of governance and regulations in Oman, ensuring smooth functioning and effective implementation of policies and laws. It is a reflection of the Sultanate’s commitment to good governance and transparent operations in various sectors.
