Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, has announced the implementation of the Partial Payment of Cheques service in line with the Central Bank of Oman's guidelines on partial cheque payments. This national initiative aims to enhance cash flow for individuals and businesses and reduce the likelihood of legal disputes arising from returned cheques.
"Sound payment mechanisms are a cornerstone of economic confidence, as they protect the integrity of commercial transactions while minimizing unnecessary friction in day-to-day operations. A framework that emphasizes settlement over outright rejection helps maintain working capital cycles, encourages responsible financial behavior, and strengthens trust between counterparties. Bank Nizwa considers system-wide initiatives of this nature essential for building a resilient financial ecosystem that supports productive economic activity and long-term stability."
- Mr. Mohammed Iqbal Al Balushi, Assistant General Manager of Operations, Bank Nizwa
