OAB HIGH YIELD DEPOSIT – GENERAL TERMS AND CONDITIONS

The following terms and conditions (“Terms and Conditions”) are applicable to the Scheme (as

defined below) and you agree to be bound by the Terms and Conditions, as the same may be

amended, supplemented, updated, replaced or otherwise varied by OAB from time to time.

1. DEFINITIONS

1.1. “OAB” means Oman Arab Bank SAOG.

1.2. “Scheme” means the deposit program offered by OAB and marketed as “OAB High Yield

Account” which terms and conditions are set forth herein.

1.3. “Scheme Account” means the OAB bank account into which the funds will be deposited

upon the participation in the Scheme.

1.4. “Scheme Application Form” means the application form filled in and signed by the

Scheme Participant for the purposes of participating in the Scheme.

1.5. “Scheme Participants” means the individuals participating in the Scheme in accordance

with these terms and conditions.

2. BINDING EFFECT

2.1. By joining the Scheme, you acknowledge and agree that these Terms and Conditions and

any as other information regarding the Scheme, are published and may be accessed online

at [https://www.oman-arabbank.com/] , and you acknowledge and agree to keep yourself

updated with the most up to date and current version.

2.2. In addition to these Terms and Conditions, you continue to be subject to (i) the General

Terms and Conditions of Account Opening, and (ii) the OAB Debit Card Terms and

Conditions, copies of which will be made available to you upon your request.

3. HIGH YIELD SCHEME

3.1. The High Yield Deposit Scheme (i.e. the Scheme) is an interest-bearing deposit scheme

that allows the Scheme Participants to receive returns on their deposits with OAB in the

terms and conditions set forth in these Terms and Conditions.

4. DEPOSITS

4.1. Funds deposited into the Scheme Account must be new to OAB accounts and may not be

already existing funds in any of the Scheme Participant’s accounts with OAB.

4.2. The minimum deposits to be made into the Scheme Account shall be one thousand Omani

Rials (OMR 1,000) (the “Minimum Balance”), which shall be maintained every month.

4.3. Should at any day during any given month, the balance of the Scheme Account fall below

the Minimum Balance: (i) no interest returns are due, and (ii) the return period shall be set

to zero.

5. SCHEME RETURNS

5.1. Scheme Participants will receive the agreed annual returns on the Minimum balance

available at the Scheme Account.

5.2. The Scheme Participant shall be moved from one tier to another (upwards or downwards)

according to the actual Minimum balance available at the Scheme Account at the end of

each month.

5.3. All return calculation will be based on:

(i) The date on which the actual deposits were made into the Scheme Account; and

(ii) The amount available in the Scheme Account.

5.4. The above tiers and interest rates are valid till 31st December 2022, and are subject to

change at the Bank’s sole discretion upon a seven-day notice.

5.5. The returns shall be credited to the Scheme Participant on a monthly basis to the Scheme

Account.

5.6. Upon their written request, the Customer shall receive a debit card to make withdrawals

from the Scheme Account.

6. INDEMNITY

Oman Arab Bank shall not be liable for losses, damages, expenses, claims or any other

liability whatsoever, whether direct, indirect, consequential, incidental, special or punitive,

sustained by the Scheme Participants as a result of the availability, non-availability,

maintenance or operation of the Scheme.

7. MISCELLANEOUS

7.1. All determinations to be made under the Scheme shall be made by OAB at its absolute

discretion and on the basis its records, and each such determination shall be final,

conclusive and binding.

7.2. OAB reserves the right, at any time, at its absolute discretion, without notice and without

liability whatsoever on its part, to supplement, amend, replace, delete or otherwise vary

any of the Terms and Conditions as well as the terms and conditions of any other set of

terms and conditions referred to in these Terms and Conditions, and to change, vary,

modify, terminate or cancel the Scheme or any of its benefits or features, or otherwise do

any other act with respect to the whole or any part of the Scheme.

8. GOVERNING LAW AND DISPUTE RESOLTION

These terms and conditions are governed by the laws of the Sultanate of Oman. Any

disputes arising in, out of, or in connection with these Terms and Conditions shall be

referred to the competent courts in the Sultanate of Oman.