Khaleej Times, 2 July 2025: With effect from 1 July 2025, Oman will require the use of the International Bank Account Number (IBAN) for all domestic financial transactions.

Financial institutions have notified their users of the change and advised them to update their beneficiary details by including the IBAN to prevent payment failures. Beneficiaries in Oman will have to be re-registered using the IBAN to align with the new banking regulations.

The IBAN system is essential for seamless cross-border payment transactions, functions as an international standard for identifying bank accounts worldwide, helping mitigate delays and errors in monetary transfers. The implementation of IBAN for domestic use in Oman aligns with practices in other jurisdictions in Europe, the Middle East, and parts of the Caribbean.

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