General Terms and Conditions

General Terms and Conditions

This document sets out the general terms and conditions applicable to the services provided by Al Yusr Islamic Banking Window of Oman Arab Bank SAOC to its customers. These general terms and conditions should be read in conjunction with any special conditions applicable to the customers' accounts or to any other products and services offered by Al Yusr Islamic Banking Window Oman Arab Bank SAOC.

Definitions and Interpretations

  • Definitions:

    Account means any bank account (including any sub- account, current or savings deposit account) held in the Customer's name with the Bank.
    Affected Instruction means an Instruction that the Bank thinks is unclear, conflicting, incorrect, incomplete, not authentic, unauthorised or would breach any applicable law, order or sanction of any Authority.
    Affiliate means, in relation to a company:

  • Its Subsidiary;
  • Its Holding Company; or
  • Any other Subsidiary of that Holding Company
  • Including head offices and branches of the above.

Agreement means the contract between the Parties relating to the Bank's provision to the Customer of one or more Services, comprising these General Terms, the Terms and Conditions of Accounts and any other terms and conditions referred to in the relevant Application Form.

Application Form means an application form which the Bank provides or make accessible to the Customer in which the Customer apply to the Bank for any Service (including a supplemental application form).

Authorised Person means any person that the Customer designate in writing as having the authority (either alone or collectively) to act on his behalf in giving Instructions, to perform any other acts under an Agreement or receive any Service.

Authority means any government, quasi-government, administrative, regulatory or supervisory body or authority, court or tribunal with jurisdiction over the Bank or the Bank's head office.

Banking Day means a day when banks are open for general banking business in Oman.

Channel means any system, medium or channel (including internet, telephone, fax and email) established by the Bank to enable the Customer to access and use the Services that they have selected.

Customer ID means the unique means of identification (in the form of a password, PIN, personal identification or a combination) assigned to or selected by the Customer.

Customer Group Member means the Customer or any of the Customer's Affiliates (including head offices and branches).

Customer Systems means any communication line, modem connection or other facilities, software, hardware or equipment provided and used by the Customer to transmit or receive any information sent electronically or by telephone.

Control means where one person (either directly or indirectly and whether by share capital, voting power, contract or otherwise) has the power to appoint and/or remove the majority of the members of the governing body of another person or otherwise controls or has the power to control the affairs and policies of that other person and that other person is taken to be “Controlled” by the first person.

Digital Certificate means an electronic attachment to an electronic message used for security purposes.

Electronic Keys means a smart card, security token, electronic key or other similar physical device which gives the person who has it access to a Service.

Force Majeure means, any:

  • Flood, storm, earthquake or other natural event;
  • War, hostilities, terrorism, revolution, riot or civil disorder;
  • Strike, lockout or other industrial action;
  • Change in any law or any change in the interpretation or enforcement of any law;
  • Act or order of any Authority;
  • Order of any court or other judicial body;
  • Restriction or impending restriction on the availability, convertibility, credit or transferability of any currency;
  • Computer system malfunction or failure (regardless of cause) or any third party interference with a computer system;
  • Error, failure, interruption, delay or non-availability of any goods or services supplied to the Customer or the Bank by a third party; or
  • Other circumstance beyond the Bank's reasonable control.

Holding Company means, in relation to a company, a company in respect of which the first named company is a Subsidiary.

General Terms means these general terms and conditions.

Insolvency Proceedings means any corporate action, legal proceedings or other step in relation to:

  • Suspension of payments, moratorium of indebtedness, bankruptcy, winding up, dissolution, administration and reorganisation (other than a solvent liquidation or reorganisation) or composition or arrangement with creditors;
  • The appointment of a liquidator (other than in respect of a solvent liquidation), receiver, administrator or similar officer in respect of the Customer or any of their assets;
  • Expropriation, attachment, sequestration, distress or execution affecting any of the Customer's assets or the enforcement of any security over the Customer's assets; or
  • Any analogous procedure or step in any jurisdiction.
  • Instruction means instructions in relation to any Account, Transaction or Service which:
  • Contain the information which the Bank requires to carry out the instructions;
  • The Bank receive via: SWIFT, telephone, telex, fax, other teleprocess, Our electronic instruction system or such other means agreed by the Parties; and
  • The Bank believe in good faith has been given by an Authorised Person or are transmitted with such testing or authentication as the Bank may specify, and Instruct has the corresponding meaning.

Intellectual Property Rights means any rights in tangible and intangible intellectual and industrial property existing anywhere including any invention, patent, design or utility model rights, logo, copyright, trade mark, service mark, database right, topography right, commercial or confidential information, know how or trade secret and any other rights of a similar nature or effect whether or not registered and the right to apply for them.

Internet Banking Services means the service to be provided by the Bank, which would enable the Customer to obtain information from and give instructions to the Bank by logging on to the Bank's Website.

Loss means any losses, damages, demands, claims, liabilities, costs (including legal costs) and expenses of any kind (including any direct, indirect or consequential losses, loss of profit, loss of goodwill and loss of reputation) whether or not they were foreseeable or likely to occur.

Mandate means the Customer's corporate authorisation setting out the Authorised Persons’ authority to act on their behalf.

Notify means the Bank's disclosure to the Customer of information by any of the following methods:

  • Verbally;
  • Handing over by the Bank's officer;
  • In writing by post, fax or email; and
  • Posting on the Bank's Website

and Notified, Notifying and Notification have corresponding meanings.

Parties means the Customer and the Bank.

Payment Instrument means any cheque, traveller's cheque, demand draft, cashier’s order, money order, postal order or other similar instrument.

PIN means a secret number code unique to a User.

Relevant Data Subject means any person:

  • Named in or who executes an Application Form or a Set- Up Form;
  • Who is the Customer Authorised Person; or
  • Specified by the Bank as such;
  • Report means, in relation to any Account, Transaction or Service, any data, report, statement or information requested by the Customer.

Security Procedures means any security measures and procedures set out in the Service Supplements and any other instructions that the Bank may give the Customer concerning security.

Service refers to any banking facilities, Channel(s) functions and product and financial services that the Bank provides to the Customer (whether or not related to an Account).

Service Level Agreement means the procedural and operational requirements for the provision of a Service as agreed between the Parties.

Service Supplement means the Bank's terms applicable to a Service the Customer have selected.

Subsidiary means, in relation to a company, any other company:

  • Which is Controlled, directly or indirectly, by the first named company;
  • More than half the issued share capital of which is beneficially owned, directly or indirectly, by the first named company; or
  • Which is a Subsidiary of another Subsidiary of the first named company.

System Materials means all User Guides, Software, hardware, Electronic Keys, card readers, Digital Certificates and all other equipment, materials or documentation on any media that the Bank provide to the Customer.

Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or fee (howsoever described) payable in connection with any failure to pay or any delay in paying any of it).

Telephone Banking Service means the service to be provided by the Bank, which would enable the Customer to obtain information from and give instructions to the Bank in respect of their Account through telephone.

Transaction means any transaction:

  • Made between the Parties;
  • Effected by the Bank on the Customer's Instruction; or
  • Made between the Customer and any other party;

Transaction Terms means the terms which govern each Transaction.

User means any person that the Customer authorises to use any Service on their behalf.

User Guides means the operating and procedural guides, manuals or technical specifications provided to the Customer in connection with an Account or a Service.

User ID means the unique means of identification (in the form of a password, PIN, personal identification or a combination) assigned to or selected by a User.

Website means the internet, the internet platform or website through or on which any Report or Service is made available or provided to the Customer.

  • Rules for Interpreting these General Terms

    References to certain general terms: Unless expressly stated otherwise in these General Terms:

  • A reference to a person includes such person’s executors, administrators, successors, substitutes (including by novation) and assigns;
  • A reference to a document includes any variation or its replacement;
  • “Person” includes an individual, a sole proprietorship, a partnership, a body corporate, an unincorporated association, a government, a state, an agency of a state and a trust;
  • The word “law” includes common law, principles of equity and laws made by parliament;
  • A reference to a law includes any regulation, rule, official directive, request, or guideline (whether or not having the force of law) of any Authority;
  • The word “including” when listing examples, does not limit the list to such examples or examples of a similar kind; A gender includes all other genders;
  • The singular includes the plural and vice versa;
  • Send or sent electronically means to send or have sent any information or instructions by way of fax, email or any other form of electronic communication or messaging; and
  • Writing includes telex, email and fax transmission legibly received and written has the corresponding meaning.
  • Headings in these terms and conditions are for convenience only and do not affect their interpretation.

Customer's responsibilities

  • Customer must:
    • Follow the Bank's instructions relating to any Service and perform any Security Procedures;
    • Follow all applicable laws;
      • Provide the Bank with any documents that the Bank requests for evidencing the Customer's Authorised Person’s authority;
      • Get the consent of Relevant Data Subjects to the Bank's collection, holding and use of their personal information;
      • Get independent legal, tax, financial and other advice in relation to any Account, Service, Transaction or Agreement with the Bank. The Bank does not owe the Customer any advisory, fiduciary or similar duties;
      • Give the Bank accurate and up to date information in relation to the Agreement and any information that the Bank reasonably requests; and
      • Keep the Customer Systems, Client ID, Customer ID and all information relating to the Services secure and confidential preventing anyone other than the Customer's Users and Authorised Persons access to them. The Customer will inform the Bank immediately if such Customer Systems, Client ID, Customer ID and all information relating to the Services are lost, misused or being used by someone who does not have authority to use them and inform the Bank immediately of any or suspected problems with any Channel and help the Bank with their reasonable requests to fix any problems.


  • The Bank needs seven (7) Banking Days from the time that it receives the Customer's new Mandate to replace the existing one. Until then, the Bank will rely on the existing Mandate.
  • The Customer confirms that the Bank can accept Instructions from any Authorised Person.
  • The Bank may act on incomplete or unclear Instructions if they reasonably believe that they can correct the incomplete or unclear information without referring to the Customer.
  • The Bank may act on Instructions even when they are inconsistent with each other.
  • The Bank may not process the Customer's Instruction if:
    • The Bank considers it an Affected Instruction;
    • The Security Procedures appear to have been breached;
    • The Bank have a valid reason for doing so; or
    • Processing it may result in an unauthorised overdraft.
  • Where more than one Instruction is given, the Bank may choose which Instruction to process.
  • The Customer authorise the Bank to act as the instructing financial institution to send their Payment Instructions. The Customer also authorises the Bank or any third party who receives such Instructions to act on them as if the Customer had sent the Instructions directly to them.
  • If the Bank cannot process the Customer's Instruction, the Bank will notify the Customer as soon as they can.
  • The Bank will try to stop or cancel a Transaction when the Customer asks the Bank to but the Bank will not be responsible if they cannot do so.
  • The Customer shall indemnify the Bank on demand against any Loss arising from, or incurred in connection with:
    • The cancellation of a Transaction pursuant to Clause ?3.8; or
    • The processing of a Transaction for which the Customer has insufficient funds to complete

    And this indemnity is independent of the Customer's other obligations under the Agreement and for the avoidance of doubt continues after such Agreement ends.

Notices and Communications

  • The Bank will send all written notices, letters and statements to the address last known to the Bank. Written notices will be deemed to have been received five working days after they have been sent by the Bank. If the address last known to the Bank is abroad the period will extend to fourteen working days.
  • The Bank may suspend the Accounts from all operational activity if the Bank becomes aware of returned mail/gone away postal notifications from the Customer's primary correspondence address until such time that the Bank can re-establish to its satisfaction, communication with the Customer, and ascertain reason for such returned correspondence. The Bank is not obliged to render the Account operationally inactive in such situations but may do so if deemed necessary.
  • Unless otherwise provided, the Bank notices and communications to the Customer are effective if;
    • Sent by fax, at the time shown on the transmission report as being successfully sent;
    • Delivered personally, at the time of delivery;
    • Sent by post, five Banking Days after posting; and
    • Sent by email, at the time that the Bank sent it.
  • The Customer's communications are effective when the Bank actually receives them.
  • Notices given by either the Bank or the Customer will only be valid if given in writing but the Bank, at its discretion, can act on the Customer's Instructions or communications received verbally or through any Channel if they believe them to be genuine and complete. The Bank may require the Customer's confirmation prior to acting on such Instructions. The Customer bears any risks in sending their Instructions or communications verbally or through any Channel.

Our Responsibilities

  • In providing the Services, the Bank will:
    • Use reasonable care and skill;
    • Provide the Customer the relevant Services that they select under any Application Form accepted by the Bank;
    • Use reasonable endeavours to re-establish any Channel that the Customer selects which is interfered with or becomes unavailable or provide the Customer with alternative facilities as soon as the Bank can; and
    • Take all reasonable measures to prevent unauthorised access to any Channel.
  • The Bank may issue the Customer IDs, User IDs, PINs or other means of identification to communicate with the Bank electronically or to give the Bank Instructions. Customers are responsible for them once the Bank sends them to the Customer even if any other person receives or uses them. The Customer must keep them strictly confidential preventing any person other than the Customer's Authorised Persons access to them.

Our Responsibilities

  • Telephone Banking Service:
    • Telephone Banking Service for the Bank enables the customer to carry out certain banking transactions and access certain Bank services over the phone (through the service operator or an automated voice response system) 24 hours a day.
    • Telephone Banking Service is available to any existing Accounts of the Customer and those that he/she may open in the future. Accounts in the names of minors are operated solely by the parent or legal guardian and the Telephone PIN (TPIN) is not to be revealed to the minor.
    • The Bank will accept the Customer's telephone instructions only if the correct Customer Identification Number and the TPIN is used.
    • The Customer undertakes to have sufficient funds in its Accounts for effecting transactions on the telephone. If the Bank allows a transaction which creates an unauthorised overdraft, the Customer shall repay such amount immediately and the terms and conditions relating to overdrafts shall apply.
    • The customer consents to the transmission of instructions, orders and/or information over telephone (including mobile and other telecommunications) understanding that telephones may not always be a secure communication channel, and agrees to carry aII risks associated with a possible confidentiality breach occurring as a result of the use of such system.
    • The Customer agrees to permit the Bank to record telephone conversations with the Bank.
    • The customer agrees that the Bank will not be responsible for any failure, instability or interruption of service due to any malfunction of the equipment, power supply systems and/ or communication lines or networks supplied, provided, operated and/or maintained by third parties. The customer further agrees that the Bank will not be responsible for any losses incurred by the customer in relation to his/her use of the service (including losses caused by wrongful acts or omissions of third parties), unless such losses are directly caused by wrongful acts or omissions of the Bank acting wilfully or due to gross negligence. The Bank reserves the right to change the set of services provided to the customer completely discontinue the service with or without prior notice to the customer, at any time at its sole discretion.
    • The Bank may at any time vary these terms and conditions without prior notice.
  • Internet Banking Service:
    • The Bank may offer the Internet Banking Services to selected Customers at its discretion and Customers may register their interest in the Internet Banking Services online through the Bank's Website.
    • For the avoidance of doubt, neither a Customer's registration of their interest in the Bank's Internet Banking Services pursuant to Clause ?6.2.1 nor the Bank's acknowledgement of such interest shall constitute an acceptance by the Bank of the Customer's application for the Internet Banking Service.
    • A minimum balance is to be maintained in all Accounts as stipulated by the Bank from time to time. The Bank reserves the right to withdraw the Internet Banking Service without prior notice to the Customer if the Account does not maintain the minimum required amount. Use of the Internet Banking Online Service does not confer upon the Customer any right to overdraw his/her Account unless by way of prior written agreement with the Bank.
    • The Bank will only accept the Customer's instructions if the correct PINs have been used by the Customer and the security procedures of the Internet Banking Online Service complied with.
    • The Use of the Internet Banking Online Service does not confer upon the Customer any right to overdraw his/her Account unless by way of prior written agreement with the Bank.
    • The Bank shall be irrevocably authorised by the Customer to accept and act upon instructions given by the Customer where the PINs appear to have been validly used including debit or credit the Customer's Account with all such transaction instructions or carry out any service requested without further authority from the Customer. The Customer hereby agrees to indemnify the Bank and hold the Bank indemnified against compliance by it with any instructions from the Customer which appear to the Bank to have been given by the Customer.
    • If the Customer instructs the Bank through the Internet Banking Service, such instruction may only be cancelled if the Bank receives notification of such cancellation before the instruction is acted upon.
    • Records maintained by the Bank of any instruction given by the Customer under Internet Banking Online Service shall be conclusive evidence of the Customer's instruction and the time it was give except in the case of manifest error.
    • The User is responsible for the accuracy of all information supplied to the Bank through the use of Internet Banking Online Service and any other means such as electronic mail or written communication and the Bank shall not be liable for any consequences by reason of erroneous information provided by the User. Where the User discovers an error or mistake, he/she is to inform the Bank immediately.
    • The User shall indemnify the Bank on demand against any direct, indirect, contingent or other Loss arising from, or incurred in connection with:
      • The User providing the Bank with inaccurate or erroneous information through the use of Internet Banking Online Service and any other means such as electronic mail or written communication; or
      • The failure of the User to inform the Bank immediately upon the User's discovery that information provided by the User to the Bank through the use of Internet Banking Online Service and any other means such as electronic mail or written communication contains an error or mistake.
    • And this indemnity is independent of the Customer's other obligations under the Agreement and for the avoidance of doubt continues after such Agreement ends.

Authority of the Customer's Authorised Person

  • Unless the Customer advise the Bank in writing otherwise (and the Bank acknowledged such advice), an Authorised Person shall have the authority to sign any document and perform any act on the Customer's behalf including:
    • Agreeing, supplementing, restating or varying the terms of the Agreement, including the addition or removal of any Service; and
    • Instructing the Bank to include the Customer in a common Channel(s) set-up created for all or certain Client Group Members and appointing any of the Customer's Affiliate as an agent on the Customer's behalf (including appointing any successor).
  • The Customers are bound by the actions of their Authorised Person.
  • The Customer may terminate an Authorised Person’s authority by notifying the Bank in writing.

Amounts, Expenses and Debiting Accounts

  • The Customer must pay the Bank without set-off, deduction or counterclaim:
    • Any amount payable by the Customer under the Agreement; and
    • Any expenses that the Bank incurred in connection with the Agreement.
  • The Bank may cancel, reverse or debit any payment they make under the Agreement (including any return paid):
    • To correct a mistake;
    • Where the Bank have not received cleared and unconditional funds in full or promptly;
    • Where the Bank are required to return the funds to the relevant payer or drawer; or
    • Where the Bank have reasonable grounds for doing so.
  • The Bank may debit any amount due under the Agreement from any of the Customer's Accounts with the Bank at any time.
  • The Customer may terminate an Authorised Person’s authority by notifying the Bank in writing.

Indemnity and Limitation of Liability

  • The Bank is not liable for any Loss that the Customer suffers or incurs as a result of, arising from or in relation to, any Service, Channel or Transaction (and the provision or execution of any of the foregoing), any act or omission, breach of contract or duty or any tort on the Bank's part. The foregoing applies whether the Loss arises out of contract, tort, statute or otherwise. The Bank remains liable for the Customer's direct loss to the extent it is caused by any fraud, gross negligence or wilful misconduct on the Bank's part but exclude any liability for indirect or consequential losses or loss of profit whether or not they were foreseeable or likely to occur.
  • In relation to Channel Services, the Bank's total liability for any claim for any Losses provided under the Agreement is the sum of the Channel Service charges paid by the Customer for the 90 days before the date of such Loss.,
  • The Customer shall indemnify the Bank on demand against any Loss arising from or incurred in connection with:
    • The Bank providing any Service to the Customer;
    • The Customer or their Authorised Person not complying with any obligation under the Agreement;
    • The Bank acting or declining to act on the Customer's Instructions; and
    • The Bank holding any security or dealing with any secured asset.
  • This indemnity is independent of the Customer's other obligations under the Agreement and continues after such Agreement ends.
  • The Bank is not responsible for any Loss that the Customer may suffer due to a Force Majeure event.
  • Any other limitation of liability contained in any Service Supplement is in addition to and does not limit this Clause.
  • All Reports and other information that the Bank provides the Customer are based on the Bank's records. The Bank are not responsible where the information is not up to date.
  • The Customer is responsible for any document or data that they provide the Bank with for transmission to third parties and acknowledge that the Bank are not responsible for and have no duty to review such documents before transmission.
  • The Customer must notify the Bank in writing within 6 months of becoming aware of the material facts of any claim the Customer has against the Bank, failing which, the Customer will waive all of their rights to claim against the Bank.
  • All terms, conditions and warranties implied by law regarding the quality or fitness for purpose of the Services or the System Materials are excluded to the extent permitted by applicable law unless the Bank expressly states otherwise.

Indemnity and Limitation of Liability

  • The Bank will keep information provided by the Customer or relating to the Customer confidential except that the Bank may disclose such information to:
    • The Bank’s service provider or professional advisor who is under a duty of confidentiality to the discloser;
    • Any actual or potential participant, sub-participant or transferee of the Bank's rights or obligations under any Transaction between the Parties (or any of its agents or professional advisors);
    • Any rating agency, insurer or insurance broker, or direct or indirect provider of credit protection; or
    • As required by law or any Authority
  • The Bank may debit any amount due under the Agreement from any of the Customer's Accounts with the Bank at any time.
  • The Customer may terminate an Authorised Person’s authority by notifying the Bank in writing.


  • The Customers may not assign, novate, transfer or otherwise deal with their rights or obligations under the Agreement without the Bank's consent.
  • The Bank may assign, novate, transfer or otherwise deal with all or any of their rights and/or obligations under the Agreement without any person’s consent. The Customer must comply with the Bank's reasonable requests to give effect to the same including giving their consents and signing documents.


  • The Bank may set-off any amount that the Customer or the Affiliates of the Customer owe to the Bank or any of the Bank's Affiliates (whether or not due for payment) against any amount that the Bank owes the Customer under the Agreement or any amount in any Account they hold with the Bank. The Bank may do anything necessary to effect any set-off under this Clause (including varying the date for payment of any amount by the Bank to the Customer and making currency exchanges).

Currency Conversion and Indemnity

  • The Bank may make currency conversions in respect of any amount received by them from the Customer or due to the Customer from the Bank or arising from the Customer's Instructions. The Customer will indemnify the Bank for any shortfall resulting from such conversion.


  • If a law or any Authority requires the Customer to deduct any Tax from a payment to the Bank, the Customer must increase the amount payable so that, after making the deduction, the Bank receives the amount the Bank would have received if no deduction had been required. The Customer agrees to deduct the amount for the Tax, pay that amount to the relevant Authority in accordance with applicable law and give the original receipts to the Bank.
  • The Customer will indemnify the Bank against any Loss arising from or incurred in connection with any Tax payable by the Bank on, or calculated by reference to, any amount paid or payable by the Customer under the Agreement (excluding any Tax payable by the Bank by reference to the Bank's net income received or receivable by them).

Termination and Suspension

  • Either Party may terminate the whole or any part of a Service, or the Agreement, by giving the other Party 30 days prior written notice.
  • The Bank may terminate the whole or any part of a Service or the Agreement, immediately without prior notice:
    • If the Customer breach any term of the Agreement or any other agreement between the Parties;
    • If the Customers are the subject of any Insolvency Proceedings in relation to all or any part of their revenue or assets;
    • If it is or is likely to become unlawful for either the Customer or the Bank to perform the Bank's respective obligations under the Agreement; If complying with the Agreement may cause the Bank to breach a regulatory requirement or their policy associated to any applicable order or sanction of any Authority; or
    • Upon the occurrence of any circumstance affecting the Customer or the Service which the Bank reasonably consider exceptional.
  • The Bank may suspend a Service at any time. If they do, the Bank will Notify the Customer as soon as practicable.
  • The Bank will suspend the whole or any part of a Service on the Customer's request in writing.
  • Any Instruction given or any Transaction made prior to or at the time of termination or suspension will not affect a person’s accrued rights and liabilities unless otherwise agreed.
  • The provisions relating to clawbacks, indemnities, limitation of liability, disclosure of information, set- off, currency conversions, taxes, governing law and jurisdiction and the provisions under the heading, “General” survive termination of any Agreement.
  • The Bank may suspend providing any Service until a Force Majeure event has ceased.
  • Upon termination of the Agreement or closure of an Account, the Customer must return any materials relating to the Service that the Bank gave the Customer, including any System Materials, cheque books or automated teller machine cards.

Governing Law and Jurisdiction

  • The Parties submit to the exclusive jurisdiction of the courts of the Sultanate of Oman.
  • Notwithstanding clause ?16.1, the Bank may take enforcement action in any jurisdiction where the Customer perform their business or have any assets.
  • The General Terms and the contractual relationship between the Parties shall be governed by the laws of the Sultanate of Oman.
  • In the event that a conflict should arise between the Arabic translation of the General Terms and the English translation, the Arabic translation of the General Terms shall prevail.
  • The Customer irrevocably waive any sovereign and other immunity they may have in any jurisdiction from legal proceedings, attachment before or after judgment or execution of judgment.
  • Parties agree that the Bank will not give or receive any interest payment under this Agreement.


  • The Bank may employ independent contractors and agents (including correspondents) to perform any of its obligations or Service.
  • Nothing in the Agreement obliges the Bank to do or omit to do anything if it would or might in the Bank's reasonable opinion constitute a breach of the Bank's policy or any applicable law or order or sanction of any Authority.
  • The Bank will only act on any Instruction or perform any Service on a Banking Day.
  • Unless there is an obvious mistake:
    • The Bank's records (whether in paper, electronic, data or other form) of an Instruction, Report or other communication are conclusive of their contents or the Bank's receipt or non- receipt of them; and
    • Any certificate or decision that the Bank makes of a rate, price or an amount owing to or by the Customer is conclusive;
    • The Agreement is the entire agreement between the Parties about its subject matter and replaces all previous agreements between the Parties on that subject matter and the Customer have not relied on any oral or written representation or warranty made, or purportedly made, by the Bank or on their behalf except as set out in such Agreement.
  • If there is any inconsistency between:
    • These General Terms and the relevant Service Supplements or any other terms and conditions referred to in any Application Form, the latter prevails;
    • The English version of the Agreement and its Arabic translations, the [Arabic] version prevails.
  • The Bank may change the Agreement or any Service and will Notify the Customer of such change and the effective date of such change.
  • If any term of the Agreement is invalid, unenforceable or illegal in a jurisdiction, that term is severed only for that jurisdiction. All other terms continue to have effect in that jurisdiction.
  • The Parties’ rights under the Agreement are in addition to any other rights, independent of the Agreement. Any security held by the Bank is independent of and in addition to any other security, right or remedy.
  • If the Bank do not exercise a right or remedy fully under the Agreement, the Bank may still exercise it later.
  • The Agreement may consist of a number of copies, each signed by one or more Parties to such Agreement. Such signed copies form one document.
  • Unless stated otherwise in the Agreement:
    • A person not a party to the Agreement has no right to enjoy or enforce any benefit under it; and
    • The consent of any person not a party to the Agreement is not required to amend such Agreement.


  • If the Customer is an intermediary acting for a third party, they shall represent to the Bank that they have satisfactorily performed all know-your-customer and other anti-money laundering checks in accordance with any applicable law or any act or order of any Authority and the Bank's internal policies (including verification of the third party’s identity and source of funds and nature of such third party’s transactions).


  • The Customer acknowledges that it has not relied on any representation by Bank as to the Shari'a compliance of this Agreement or the transactions contemplated hereby and that it is satisfied that this Agreement and such transactions are compliant with Sharia.
  • The Bank and Customer hereto recognise and agree that the principle of the payment of interest is repugnant to Sharia and accordingly, to the extent that the laws of Oman would but for the provisions of this clause ‎19 impose whether by contract or by statue any obligation to pay interest, the Bank and Customer irrevocably and unconditionally waive and reject any entitlement to recover interest from the other.