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On December 6, 2012, Royal Decree 69/2012 amended Banking Law 14/2000 by introducing a new Title Six (Islamic Banking), in which article numbers 121-126 were added in the Law.​

Under the provisions of these articles, the provisions of Banking Law as well as regulations, instructions and guidelines issued thereunder shall apply to Islamic banks to the extent they are not inconsistent with the nature of Islamic banking.

These articles cover power of Board of Governors to set rules, regulations and guidelines as applicable to Islamic banking; licensing of dedicated Islamic banks and windows of other licensed banks as well as main categories of Shari'ah compliant transactions permitted to these entities. 

To smooth operations of Islamic banking, an important provision in these articles permitted Islamic banks and windows to purchase, sell, hold, invest in, lease and rent movable and immovable properties in exception of the limitations provided for in the Banking Law and other Laws and Royal Decrees applicable in the Sultanate.

Similarly, level playing field was provided for tax treatment of Islamic banking, whereby licensed banks were exempted from the fees levied on the acquisition of or leading or renting immovable or movable property, for the purpose of conducting Islamic banking business in implementation of the provisions of Banking Law.

Banking Law also requires all licensed Islamic banking entities to have a Shari'ah supervisory board, which are to be appointed by the general assembly.

For the Central Bank, a High Shari'ah Supervisory Authority to be established by the Board of Governors.  

For details, see Banking Law 114/2000

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