Commercial Law: The Commercial Laws Bank Of Muscat

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1.1 Commercial Laws
I. Definition: Commercial laws also known as business law or corporate law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law.

II. Commercial Laws Bank Of Muscat: The following are the objectives of this Law:
(a) To promote the development of banking institutions which will ensure the maintenance of financial stability, contribute to the economic, industrial and financial growth and enhance the position of the Sultanate in international financial affairs;
(b) To empower the central bank to issue currency and maintain …show more content…

The company has its primary listing on the Muscat Securities Market (MSM), Sultanate of Oman. The accounts of the company are consolidated in the financial statements of Oman Oil Company SAOC (the parent company), a closed joint stock company registered in the Sultanate of Oman. The company has entered into a ‘Trademark License Agreement’ with the parent company dated 22 September 2003, for the right to use the trademark ‘Oman Oil’, in exchange for an annual fee of 0.09% of all fuel

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