The Government of the Sultanate of Oman's emphasis on diversification and increased role of the non- Oil and Gas sectors in the national economy has recently led to a focus on the mining industry in the country.
Tuesday, April 16, 2013
Mining Law - Possible Value Addition Requirements
Thursday, April 11, 2013
Private Sector Minimum Wage for Omani Employees Set to Rise
In a piece of important news relevant to companies doing business in the Sultanate, it was recently announced in the local press that Oman’s Council of Ministers has decided to raise the minimum wage for Omani citizens employed in the private sector.
Labels:
Minimum Wage,
Oman's Council of Ministers,
Omani law
Monday, April 8, 2013
Reserve Funds for Omani Companies
To help ensure that Omani companies maintain a solid financial position and are able to withstand shocks to their businesses, the Commercial Companies Law contemplates varies types of legal reserve funds for companies.
Tuesday, April 2, 2013
Protecting Foreign Principals in 'Three-Way' Local Distribution Arrangements
Distribution agreements and commercial agency relationships are a common legal structure for doing business in Oman. Distribution agreements are particularly useful for selling locally within Oman goods or commodities that are produced abroad by a foreign company.
Thursday, March 21, 2013
Procedural Pitfalls to Avoid in Omani Litigation Cases
It is always important, when considering filing a court case in Oman, to attend to administrative pre-requisites so that there are no time delays in the process.
Wednesday, March 13, 2013
Shari'a-Compliant Investment Banking in the Sultanate of Oman
Investment banking activities and licensing requirements
The Islamic Banking Regulatory Framework (the “Framework”) for the Sultanate of Oman was adopted on 18 December 2012 pursuant to Circular 1B 1 of the CBO. In addition to establishing requirements and parameters for Islamic banks, Section 5 of the Framework addresses investment banking activities. These investment banking requirements and parameters are the subject of this article.
Thursday, March 7, 2013
Bancassurance in Oman
Bancassurance is the arrangement between a bank and an insurance company for the sale of insurance products by the bank. This arrangement is widely used around the world and helps insurance companies maintain smaller sales teams by benefitting from the branch and sales network of their partner banks.
Thursday, February 28, 2013
Sukuk in the Sultanate of Oman
Licenses have now been issued by the Central Bank of Oman (the “CBO”) for some Islamic banks and windows in the Sultanate of Oman. Islamic banking, finance and investment activities have commenced. Banks, each to their shared and separate visions, are avidly pursuing realization of market opportunities and provision of Islamic financing services. There is considerable discussion, in the private sector and among regulators, regarding investing in and issuing sukuk and developing the “finance side” of the Islamic capital markets. The early focus on the sukuk markets is to be expected, given that the sukuk markets are the largest and most rapidly growing area of Islamic finance.
Friday, February 8, 2013
Insider Trading
The term ‘insider trading’ typically evokes images of nefarious plots and shady dealings. And indeed, illicit insider trading often fits that description. However, it is important to recognize that legal forms of insider trading also exist, whereby the insiders of a company are allowed to trade in the securities of the company entirely within the parameters of the law.
Friday, February 1, 2013
U.S.- Oman FTA Implementation Issues - Treatment of U.S. Companies with Partial Non-U.S. Ownership
Although the U.S.-Oman Free Trade Agreement has been a major success story, as with any lengthy and complex treaty, its implementation has not happened overnight.
One implementation issue that has generated much discussion lately is the accordance of Omani national treatment to U.S. companies that have some percentage of non-U.S. ownership.
The position historically taken by the Omani Ministry of Commerce & Industry (MOCI) is that, as matter of principle, the national treatment benefits under the U.S.-Oman FTA (such as the right to hold 100% ownership of an Omani limited liability company) should apply only to companies that are both (i) incorporated in the U.S. and (ii) wholly owned by U.S. natural persons.
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