The Financial Services Authority (FSA) issued in today’s Official Gazette a new Decision E/25/2024 Issuing the Governance Regulation for the Account for the Treatment of Visitors in Emergencies. Under this new regulation, visitors to Oman will be able to request a subsidy of up to 5,000 Rial Omani from the government to cover their medical emergencies if they exhaust the limit of their existing health insurance, have an expired health insurance policy, or do not have any health insurance at all.
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Intel Update: April 2024
Decree Intel is a database of original Omani legal research material that provides explanatory notes, overviews of government entities, and summaries of Supreme Court cases and MJLA Fatwas.
New Content
Financial Services Authority: The Financial Services Authority (هيئة الخدمات المالية) is the government entity responsible for regulating the capital markets; insurance companies; the commodities, energy, and derivatives market; credit rating agencies; and the accounting and auditing profession.
The Ministry of Energy and Minerals: The Ministry of Energy and Minerals (وزارة الطاقة والمعادن) is the entity responsible for formulating the strategies and policies of the energy and minerals sectors, as well as developing, supervising, and regulating them.
Case Summary: Supreme Court (Labour Circuit: Contestation) 548/2017 (Failure to Terminate a Definite Period Contract): The Supreme Court held that the failure of the employer to terminate a definite period employment contract before its expiry transformed the contract into a new indefinite period contract.
Fatwa Summary: MJLA Fatwa 212744737 (Oman Housing Bank VAT Exemption): The Ministry of Justice and Legal Affairs (MJLA) held that the Oman Housing Bank, a government-owned enterprise under the Oman Investment Authority, is exempt from value added tax (VAT).
ROP issued in today’s issue of the Official Gazette a decision amending the Executive Regulation of the Traffic Law, adding a new chapter numbered threebis to the regulation that outlines the requirements for establishing bike riding schools. The addition of these amendments to the Executive Regulation of the Traffic Law puts in place for the first time a formal framework that applies to bike riding training in Oman.
Decree signed earlier this week a memorandum of understanding with the Modern College of Business and Science (MCBS) to cooperate in the fields of legal awareness activity, professional development programmes, community service, and other fields. MCBS staff and students are already regular attendees of Decree events, and Decree and MCBS intend to collaborate in hosting a number of joint activities that target MCBS and the wider community in collaboration with public and private sector partners.
MCBS has also recently subscribed to Decree and plans on using Decree content to inform its business operations and to supplement its legal educational materials.
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Nature Reserves Under Omani Law
The most recent issue of the Official Gazette published three royal decrees issued by His Majesty establishing three nature reserves: The Buraimi Oasis Natural Reserve, the Dhahirah Natural Reserve, and the Al-Jabal Al-Gharbi Natural Reserve. Some of you might be wondering, what is the purpose of these royal decrees and what are nature reserves? This blog will attempt to provide a very quick overview of this interesting area of law.
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Introducing: Decree Risk
We are launching today Decree Risk—a brand new structured database intended to help organisations engaging with Omani businesses manage their risk by providing timely updates on liquidation, capital reduction, legal form transformation, and other risks associated with Omani companies.
The Ministry of Technology, Communications, and Information Technology (MTCIT) issued at the beginning of this week a brand new data protection policy for government entities that sets the rules for the processing of personal data by government entities. The policy mandates that all government entities must commit to protecting personal data and must implement security measures against unauthorised access or breaches.
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The new Omani Biometrics Law
Oman’s first Biometrics Law was promulgated last week and published in the Official Gazette yesterday. This new law establishes the regulatory framework for the collection, use, and protection of biometric data primarily for use in forensics.
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Decree Monthly Digest – March 2024
Decree Monthly Digest is a summary of the most significant updates on Decree in the previous month.
Royal Decrees
Nine royal decrees were issued in March, with the most significant ones being those establishing the Financial Services Authority, promulgating the Biometric Law, and amending the Law of the State of Emergency and the Criminal Procedure Law.
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Intel Update: March 2024
Decree Intel is a database of original Omani legal research material that provides explanatory notes, overviews of government entities, and summaries of Supreme Court cases and MJLA Fatwas.
New Content
Case Summary: Supreme Court (Labour Circuit) 766/2017 (Calculation of Rest in Overtime Work): An employee sued his employer for compensation for unpaid overtime working hours on the basis of two extra hours plus a one-hour break. The Supreme Court held that break time is not calculated as part of unpaid overtime.
The Ministry of Interior: The Ministry of Interior (وزارة الداخلية) is the entity responsible for developing the policies relating to governorates and local affairs, maintaining public order, undertaking matters relating to the international borders of the Sultanate of Oman, governing Omani nationality, governing tribal affairs, managing all kinds of elections, overseeing municipal councils, and governing mediation and conciliation committees.
Case Summary: Supreme Court (Commercial Circuit) Contestation 137/2017 (Grounds for Setting Aside Arbitral Award): The Supreme Court refused to set aside an arbitral award on the grounds that it had defects outside the grounds identified by the Law of Arbitration in Civil and Commercial Disputes, even though these defects would have been grounds to set aside an ordinary court judgment.
Sultan Qaboos University: Sultan Qaboos University (جامعة السلطان قابوس) is the first public and largest university in Oman.