What is the local currency?
The monetary unit is the Oman rial (RO or OR). It is divided into 1,000 baisas.
What denominations does it come in?
Notes come in denominations of 1, 5, 10, 20, 50, and 100, 500 baisas; coins come in 5, 10, 20 and 50 baisas.
What is the best way to exchange currency?
At the airport, at banks or at money changers.
What are commonly-used forms of payment for everyday purchases (such as groceries)?
Cash and credit cards are used.
Will I be able to use my credit card around town? If not, list when I’ll need cash.
Credit cards are accepted at major shops and supermarkets, but not usually in small shops or markets.
By what method are bills (such as rent and utilities) paid?
Utility bills are paid at Oman Investment & Finance Company (OIFC) or through your bank or ATM. For rent payment, see the section on "Accommodation."
What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?
To open a bank account, you need to submit your residence visa, a certified salary statement, a letter of no objection from your employer, your ID card and a copy of your passport showing your personal information page and your visa page, as well as your original passport. The account can be opened at any time.
Will foreign residents be able to find banking services in their native languages?
All foreign banks have services in Arabic and English. The more commonly used banks are Bank Muscat, HSBC and Standard Chartered Bank.
Are there any restrictions on services for those who are new to your country?
There are no restrictions. Before you can open a bank account in Oman, you need to have your residence visa. Other services include savings accounts and credit cards.
What are typical banking hours?
- 8 a.m. to 12 p.m. and from 2:30 p.m. to 6 p.m. Saturday to Wednesday
- 8 a.m. to 11:30 a.m. on Thursdays
Are automatic teller machines (ATMs) available around the clock?
Is there any other money information that might help me?
Prices are fixed in the malls; everywhere else you can bargain or wait for sales when prices can be cut up by up to 70%.
Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.