Skip Ribbon Commands
Skip to main content
  • ع
  • Menu

 

​

 

 

Central Bank of Oman rolls out the System of Partial Payment of Cheque12/15/2025 8:00:00 PMCentral Bank of Oman rolls out the System of Partial Payment of Cheque​The Central Bank of Oman has rolled out the Partial Payment Cheque Clearing System effective from 15th December 2025, <p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">​The Central Bank of Oman has rolled out the Partial Payment Cheque Clearing System effective from 15th December 2025, in line with the new regulatory instructions on Partial Payment of Cheque. </span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">These instructions allow beneficiaries of cheques to receive the available funds from a customer's bank account in cases where the account balance is less that the cheque amount.</span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">The new framework, which will apply to all types of cheques regardless of the value, aims to enhance financial discipline by improving cash flows for individuals and businesses and to minimize legal disputes related to returned cheques. </span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">The cheques eligible for Partial Payment of Cheque are Crossed cheques or Account payee cheques, Cash, Bearer or Order Cheques drawn on a licensed bank in the Sultanate of Oman.</span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">Although, it is mandatory for the beneficiaries of the cheque to accept partial payment, the customer has full right to re-present the cheque to the bank to receive the outstanding amount of the partially paid cheque, subject to the terms and conditions prescribed by the Central Bank of Oman. </span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">In all cases the beneficiary retains their full legal right of recourse to the drawer for the outstanding amount in the cheque, in accordance with the provisions contained in Article (566) of the Commercial Law and the relevant provision in the Penal Code. </span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">The Central Bank of Oman has enhanced the Electronic Cheque Clearing System with features to support the functionality of Partial Payment of Cheques, for the inter-bank clearing process among licensed banks in the Sultanate of Oman.</span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">The Central Bank of Oman emphasized that the introduction of Partial Payment of Cheques represents an important regulatory step aimed to enhance the efficiency of banking transactions, contributing to the stability of the overall financial system.</span></p>0x010100C568DB52D9D0A14D9B2FDCC96666E9F2007948130EC3DB064584E219954237AF3900075E4FF44B3F64489802BE694C5C6FB70300A9BCF8A0432A87429120A5B0A0EDBFF9

Interested to buy commemorative coins, banknotes, a Banking Law book, and/or many other things that are on sale by CBO? Please follow the ‘Available for Purchase’ link to know what is up for sale.

Available for Purchase link arrow