XMUSOMM1

Payment Instructions

General instructions for international payments to banks in OMAN:

Overview

Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g. SWIFT BIC, account number, and beneficiary bank address). For more information, refer to the Central Bank of Oman.

Payment Formatting Rules for OMR:

1. Orderer Information (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. The use of initials can delay receipt of funds by the beneficiary.
2. Beneficiary Information (SWIFT MT103 F59): Include the account number, full name (no initials), and address (street address, city, country) of the beneficiary. Using initials may delay the receipt of funds.
3. Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (if required), full name, and the address of the beneficiary bank. Note that SWIFT BIC is 8 or 11 alphanumeric characters: xxxxOMxx or xxxxOMxxxxx.
4. Reason for Payment (SWIFT MT103 F70): A 3-digit Purpose of payment code is mandatory. Contact your J.P. Morgan Service Representative for a list of purpose codes.

Additional Information: The local market is closed on Fridays.

IBAN: No

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of MUSCAT SECURITIES MARKET for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from MUSCAT SECURITIES MARKET, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.