"ملف رقم: ١٤/ ١٤ الاسم؛ بنك لمسقط (البنك الإمبراطوري في إيران والخليج الفارسي)" [و‎‎١‎٦‎٩] (٤٣٤/٣٣٧)

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This Agreeaent made this day o
1948, between Sultan Saiyld Said bln Talnmr of 'tascat and Oman and
Dependencies, hereinafter referred to as The Sultan on the one part,
and The Eastern Bank Ltd, a Company Incorporated In England and
having Its Head Office at 2 & 3 Crosby Square, Bishops gate, London,
EoC*3, hereinafter referred to as The Bank, on the other part
Witnesseth i-
The Sultan agrees to grant the Bank a monopoly of all
Sanking business TTlthln his territories excluding the
province of Dhofar, for a period of Twenty Years fron the
date of this Agreement,
The Bank will establish a Branch of the Bank in ’biscat
as soon as practicable after the date of this AgreeMent*
The Bank in consideration of the monopoly granted to it
as aforesaid will allow interest at the rate of It per cent
per annum on such funds as may be deposited with it by The
Sultan, either in his own name or in the name of the
Government of 'Muscat and Oman, to a joint total of Rupees
Ten Lacs.
In the event of the Bank desiring to surrender the
monopoly, it shall give one Year 1 s notice in writing but
such surrender shall not be made within the first five
years of the monopoly.
( 1 ).
( 2 ).
(3) .
( 4 ) .
Mtt^nRupees.
(6). So long as The Bank has only one Branch in The Sultan*s
territories, it shall endeavour to maintain two European
British Subjects to manage the affairs of its Branch, the
Senior of whom shall, in the opinion of the Bank, be of
sufficient seniority and shall be sufficiently experienced,
to advise the Merchants in The Sultan* s territories in the
development of their import and export trade with foreign
countries.
(7) . The Bank shall as far as is practicable to the
efficient conducting of its business, engage staff who are
local Muscat subjects.
(8) • The Bank shall whenever possible quote to- The Sultan ,
rates of exchange more favourable to The Sultan than the
rates current to the general public.
(9) , The Bank shall maintain in its books any Current
accounts required by The Sultan* s Government and no charge
shall be made for the conducting of such accounts.
. The Sultan shall first consult The Bank before levying
any Tax or duty upon Banking transactions to affect
adversely the business of the Bank.
(10)