Intel Update

Intel Update: November 2023

Decree Intel is a database of original Omani legal research material that provides explanatory notesoverview of government entities, and summaries of Supreme Court cases and MJLA Fatwas.

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Case Summary: Supreme Court (Commercial Circuit) Contestation 796/2016 (Insurance Duty of Disclosure): A debtor obtained a loan from a bank without disclosing that he was permanently totally disabled. The bank insured the loan after it was given. The court held that the insurer was not responsible for the repayment of the loan because the accident that caused the disability took place before the term of the policy, and the debtor was ordered to repay the loan in full with interest.

Case Summary: Supreme Court (Labour Circuit) Contestation 665/2016 (Rotational Working System): An Omani employee working on a 2-week on 2-week off rotational system sued his employer for refusing to compensate him for working during national holidays. The Supreme Court ruled that he was not entitled to compensation on the grounds that the working system of the employer, in terms of working hours and working days, was more favourable overall than the system prescribed by the Labour Law, and therefore, the failure to compensate the worker for the national day holidays is not deemed a valuation.

Overview of the Ministry of Finance: The Ministry of Finance (وزارة المالية) is the body responsible for all the financial affairs of the government, including preparing the annual budget of the state and approving major government contracts.

Overview of Oman Investment Authority: The Oman Investment Authority (جهاز الاستثمار العماني) is the sovereign wealth fund of the government of the Sultanate of Oman and is the body responsible for managing, developing, and investing certain assets of the state.