Law & Regulation

Commercial Law

OmanSecurity / CollateralIn Force

Oman's general commercial code contains the operative provisions governing commercial pledges over movable assets and commercial mortgages over a business as a going concern. Articles 217–222 address commercial pledges, including third-party effectiveness through transfer of possession, while Articles 67–69 address commercial mortgages, including formal-contract and Commercial Register requirements. These provisions form the current commercial-security framework relevant to project-finance transactions in the absence of a separate modern secured-transactions statute identified in the current Oman corpus.

Key Provisions

  • Commercial Mortgage (Articles 67–69)

    A commercial concern (a business as a going concern) may be mortgaged; the mortgage must be concluded by a formal contract and must be registered in the Commercial Register within thirty days of the date of the contract.

  • Commercial Pledge (Articles 217–222)

    A pledge is commercial where it is created over a movable asset as security for a commercially-characterized debt; the pledge is not effective against third parties unless possession of the pledged item is transferred to the pledgee or an agreed third party.

Legal Framework Position

  • Security / CollateralPrimary / Framework Instrument

Instrument Overview

Official Citation
Royal Decree 55/90
Instrument Type
Law / Act
Source Language
Arabic (official); English translation available
Enactment Date
11 June 1990
Effective Date
1 May 1991
Last Verified
29 September 2026

Official Texts & Translations