Muscat: The training program titled “Banking Business and Disputes” concluded today at the College of Banking and Financial Studies. The program saw the participation of 22 judges from the Investment and Commerce Court and aimed to enhance the participants’ knowledge of the most prominent developments and trends within the banking sector. The closing ceremony was held under the auspices of Sayyid Mohammed Sultan Al Busaidi, Deputy Chairman of the Supreme Judiciary Council.
According to Oman News Agency, the program is part of the Supreme Judiciary Council’s efforts to support specialized judiciary and enhance the efficiency of Investment and Commerce Court judges in adjudicating banking and financial cases. This is achieved through advanced training programs that combine theoretical and practical aspects while keeping pace with local and international legislative and financial developments.
Dr. Zahran Salim Al Salti, Dean of the College of Banking and Financial Studies, stated that the training program aligns with the priorities and objectives of Oman Vision 2040, particularly in building national capacities, developing the legislative and judicial system, and strengthening economic leadership and management. He added that raising the efficiency of judges in banking business and disputes supports the quality of judicial rulings and bolsters confidence in the investment environment.
He further noted that the program harmonizes with the jurisdiction of the Investment and Commerce Court in handling commercial and banking disputes of economic impact by contributing to the consolidation of a specialized and effective judicial system capable of keeping pace with developments in the banking and financial sector.
The program included several specialized themes, most notably the laws and regulations governing banking work in the Sultanate of Oman, the role of the Central Bank of Oman (CBO) in achieving financial stability, national payment systems, and modern payment methods. It also addressed the legal relationship between the bank and the customer, direct and indirect credit facilities, banking and Islamic finance, and the legislative environment for Islamic banks.
Additionally, the program covered international banking standards, global financial institutions, financial consumer protection, financial and banking analysis, off-site supervision and analysis, and field inspection. It also delved into anti-money laundering and counter-terrorism financing, national risk assessment, and mechanisms for dealing with relevant United Nations Security Council resolutions.
Furthermore, the program included modern themes related to digital banks, open banking, cryptocurrencies, and central bank digital currencies (CBDCs), supported by the presentation of real-life practical cases that contributed to enhancing judicial analysis skills and linking legal aspects to banking and financial reality.