HM Sultan Haitham bin Tarik Issues Royal Directives on the Occasion of Accession Day
Merge 104.8 | 11 January 2023
On the occasion of Accession Day, His Majesty Sultan Haitham bin Tarik issued a number of Royal Directives, which include:
- To stop working with withholding tax on the distribution of dividends and interest imposed on non-residents.
- To confirm the objectives aimed at increasing the market value of the Muscat Stock Exchange and enhance the contribution of foreign investment in it.
- To provide financial support to the charitable teams that are linked to social development committees across the country, as well as those that support the efforts of the Ministry of Social Development, and to honor the volunteers working in them.
- To raise the maximum limit for lending provided by the Oman Development Bank from OMR 1 million to OMR 5 million. The increase in this limit will be for development projects that contribute to creating added value, those that raise the capital of the Bank with the aim of encouraging investments in the country, and those that contribute to the economic diversification and provide job opportunities for citizens.
- To expand the list of activities and fields that are funded by the Oman Development Bank, while providing additional incentives for projects that are established outside of Muscat, within the framework of investment plans in the governorates and job creation therein.
