The Central Bank of Oman has rolled out a Partial Payment Cheque Clearing System alongside new regulatory instructions that allow cheque beneficiaries to receive the available funds in a customer’s account when the balance is less than the cheque amount. The framework applies to all types of cheques regardless of value and is positioned as a measure to improve cash flows and reduce disputes linked to returned cheques. Eligible instruments include crossed or account payee cheques, as well as cash, bearer, or order cheques drawn on a licensed bank in the Sultanate of Oman. Beneficiaries are required to accept partial payment, while customers can re-present the cheque to claim the outstanding amount subject to Central Bank of Oman terms and conditions; beneficiaries retain full legal recourse against the drawer for the unpaid balance under Article 566 of the Commercial Law and relevant Penal Code provisions. The Electronic Cheque Clearing System has been enhanced to support partial-payment functionality for inter-bank clearing among licensed banks.
Central Bank of Oman 2025-12-16
Central Bank of Oman introduces partial-payment cheque clearing system for all cheques effective 15 December 2025
The Central Bank of Oman has introduced a Partial Payment Cheque Clearing System, allowing beneficiaries to receive available funds when the account balance is less than the cheque amount. This framework, applicable to all cheque types, aims to enhance cash flows and reduce disputes over returned cheques. Beneficiaries must accept partial payments, with full legal recourse for unpaid balances, while the Electronic Cheque Clearing System now supports this functionality for inter-bank clearing.