The Banking Law was issued under Royal Decree No. 2/2025 to fully repeal and replace the previous Banking Law (Royal Decree No. 114/2000). The new law aims to modernize the legal framework of the banking sector in line with economic and technological advancements, with focus on enhancing financial stability, developing banking institutions, expanding CBO regulatory oversight and aligning with international standards and best banking practices, including the regulation of Islamic, digital and investment banking operations, to contribute in the support and development of the banking sector in the Sultanate of Oman.