Muscat: The Central Bank of Oman has introduced the Partial Payment Check Clearing System, which will be effective from 15 December 2025. This move aligns with the new regulatory instructions concerning the Partial Payment of Check.

According to Oman News Agency, these instructions provide beneficiaries the ability to receive available funds from a customer’s bank account when the account balance is less than the amount of the check. This framework, applicable to all types of checks regardless of their value, aims to enhance financial discipline and improve cash flows for individuals and businesses, while minimizing legal disputes related to returned checks.

Eligible checks for this system include crossed checks, account payee cheques, cash, bearer, or order checks drawn on a licensed bank in the Sultanate of Oman. While beneficiaries are mandated to accept partial payments, customers retain the right to re-present the check to the bank to receive any outstanding amount, in accordance with terms set by the Central Bank of Oman.

Beneficiaries maintain their full legal right to pursue the drawer for any remaining amount, as stipulated in Article (566) of the Commercial Law and relevant provisions in the Penal Code. The Central Bank of Oman has also enhanced the Electronic Check Clearing System to support the functionality of Partial Payment of Checks for inter-bank clearing among licensed banks in Oman.

The Central Bank of Oman highlighted that the introduction of Partial Payment of Checks is a significant regulatory measure aimed at increasing the efficiency of banking transactions and contributing to the stability of the financial system.