01
Document overview
Requires FSA approval for products, a bilingual insurer-bank agreement, permitted channels and product classes, staffing and call-centre controls, disclosure, complaints, quality assurance, risk retention, sanctions and fees.
02
Scope and exclusions
Applies to
Applies to insurance and takaful companies marketing individual or SME products through CBO-licensed banks, and to participating banks within the contractual arrangement.
Limitations and exclusions
The bank is a channel rather than the insurer: it may not issue the policy, settle claims, pay compensation or retain premiums in its own account.
04
Official source
FSA Decision E/84/2023 · effective 90 days after publication · Oman Financial Services Authority / MJLA
September 13, 2026
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