Friday, July 18, 2014

Legal Updates - July 18, 2014

Oman Ratification of the Arab Anti-Corruption Convention

The Sultanate of Oman recently ratified the Arab Convention against Corruption (the “Anti-Corruption Convention”) which was signed in Cairo on 21 December 2010, and consequently issued Royal Decree 28 of 2014 as the endorsement of the Anti-Corruption Convention. The ratification is in furtherance of the Sultanate’s decision to develop mechanisms to fight corruption together with GCC member States. The Royal Decree shall be effective from 21 May 2014.

The Anti-Corruption Convention aims to foster measures to prevent, fight and uncover all forms of corruption and other offences related to its commission, and the prosecution of its perpetrators, foster integrity, transparency, accountability and the rule of law, and encourage individuals and the civil society organisation to take an active part in preventing and fighting corruption.

Oman Ratification of Arab Convention on Money Laundering and Terrorist Financing

Pursuant to the Royal Decree 27 of 2014, Sultanate of Oman has ratified the Arab Convention on Anti Money Laundering and Terrorism Financing, which was signed in Cairo on 21 December 2010 (the “Convention”). The Convention is aimed at supporting the procedures to combat money laundering and terrorism financing and boost cooperation among GCC member States. The Royal Decree shall be effective from 21 May 2014.

Continuation of Temporary Visa Restrictions for Expatriates in certain Occupations

A recent Ministerial Decision No. 121 of 2014 (the “MD”) provides that recruitment of non-Omanis as sales person/sales promoter and purchasing agents in private sector establishments shall be stopped for a further period of six (6) months from 1 June 2014. The above-mentioned MD is in continuation of the embargo set out in the Ministerial Decision No. 608 of 2013.

The MD further states that the visa restrictions shall not be applicable to establishments registered under Excellent and International Grades.