For Year 2010 (Revised from 01.06.2010)

BANK SADERAT IRAN TARIFF MUSCAT BRANCH For Year 2010 (Revised From 01.06.2010)

RULES GOVERNING ACCOUNTS (CURRENT, CALL, SAVINGS & FIXED DEPOSITS)

GENERAL RULES

1. To open an Account the applicant must complete an Account Opening Form, make the requisite initial deposit and produce the documents required by the Bank. The Bank’s various services are available subject to separate applications. 2. The applicant must provide the Bank with specimen signatures on the Bank’s form designed for this purpose. The specimen signatures are considered legally applicable to all operations connected with the Account. 3. A Deposit made to the Account is subject to realization. The Bank reserves the right to route items for collection through its own correspondents and may refuse to accept any item presented by the customer. 4. All Withdrawals and Transfer are honoured only on presentation of order forms acceptable to the Bank. 5. The Bank’s documents are considered correct and conclusive evidence binding on the customer. Statement of account and records of transactions generated by the Bank and provided to the customer should be examined carefully to satisfy that entries made therein are correct. Any objection concerning the Bank statement and other records of transactions must be made in writing within fifteen days from the date thereof. 6. The Bank is authorized without notice to debit the customer’s account to recover any liability and charges due to the Bank and also to make correcting entries if necessary. The Bank may without notice combine accounts, consolidate, set-off or transfer any sums standing to the credit of any account towards satisfaction of any actual or contingent liability due to the Bank. The Bank may exercise its right to block funds and freeze accounts. 7. Any Bank instrument, Cheque Book, Passbook, issued in the name of the customer or other Bank documents provided to the customer shall remain the property of the Bank. These items should be handled carefully and kept in a secured place. In the event of loss, theft or damage to any of them, the customer is bound to notify the Bank immediately. The Bank reserves the right to suspend or refuse to issue and withdraw any such item from the customer without giving any reason. 8. The Customer should operate the account in good faith and without negligence and should take due precaution in all matters relating to the account with the Bank. The customer undertakes to notify the Bank of any irregularity and to take immediate steps towards rectification. 9. The Bank may at any time refuse to accept any deposit or close any Account such as Fixed Deposit, etc. and call for the discharge of the entire liability with respect to any Account without giving notice or assigning any reason. 10. These rules will be read in conjunction with other relevant rules and regulations applicable between the Customer and the Bank. The Bank reserves the right to alter or add to any of these rules without any prior intimation and such altered or additional rules shall be binding on the customer. 11. The Customer warrants that all particulars given to the Bank, whether in an Account Opening Form or otherwise, are true and accurate and changes to the particulars will be immediately notified to the Bank. 12. Any failure on the part of the Bank, to insist on fulfillment by client of these rules shall not mean or be taken as a waiver on the part of the Bank. 13. These rules are governed by and subject to the Laws of the Sultanate of Oman. Matters relating to their interpretation and implementation will be referred to the Omani Courts.

1 BANK SADERAT IRAN TARIFF FOR MUSCAT BRANCH – REVISED 2010

1. CURRENT ACCOUNTS – OMANI RIALS:

a. Credit Balance : No interest b. Cheque Book : cheque 25 leaves – RO. 2/- cheques 50 leaves – RO. 3/- c. i. Returned Cheques (draw on us) : A penalty charge of RO. 10/- returned unpaid for lack of funds on each presentation. ii. Stop payment of Cheques (either single cheque : RO. 5/- or bunch of serially numbered cheques)

REMARKS i. Remarks mentioned on cheques returned slip are “Refer to Drawer”, Exceeds Arrangement” “No Arrangement”. ii. The term ”Represent” may be mentioned only once in the returned cheque slip for each cheque at the discretion of the Branch Manager. d. i. Minimum balance charges in respect of Saving Accounts: Bz. 500 per month (Minimum balance prescribed not to exceed RO. 100) ii. Minimum Balance charges in respect of Current Accounts : Bz. 500 per month (Minimum Balance prescribed not to exceed RO. 200/-) (No charges shall be levied under this head if the account is maintained for the purpose of receiving pension and other social support allowances being granted by the government to pensioners and disabled persons).No charges shall be levied resulting in balance becoming debit. iii. Dormant Accounts : Nil charges, if the A/c. has the prescribed minimum balance. RO. 2/- per year if the A/c. does not have the minimum balance. iv. Issue or any certificate by the bank to its customers such : RO. 2 per certificate as balance confirmation NIL liability on no due certificate. e. Closing an account (within 12 months) no charges are to : RO. 3/- Be levied, if the account more than one year old.

f. Collection of outstanding cheques: : Bz. 500/- to be shared Equally by the Collecting bank and the Paying bank

2 g. Standing Instructions: i. Intra bank transaction : RO. 1/-

ii. Periodic Payments : RO. 2/- per transaction iii. Non Execution of Standing instruction due to lack of funds : RO. 5/- per transaction

h. Old Records: i. With Branch : RO. 2/- ii. From Archives : RO. 8/- per page iii. Photocopy of paid cheque : RO. 2/- if the cheque is within 1 year period and RO. 3/- if the cheque is more than 1 year old. I. Bank statement (other than normal : RO. 5/- p.a. for monthly statements Periodicity as agreed). : RO. 20/- p.a. for weekly statements : RO. 50/- p.a. for daily statements

J. Duplicate Statements : RO. 1/- up to 6 month old statements : RO. 3/- for 6-12 months : RO. 5/- beyond one year

2. ATM CARDs New Cards : RO. 1/- Supplementary cards : RO. 2/- Replacements : RO. 2/- Annual Fee for debit cards : RO. 1/- Cash withdrawal through ATM of the other network : Bz. 100/- Within Oman switch

3. CURRENT ACCOUNTS – FOREIGN CURRENCY:

a. Credit Balance : No interest

b. Cheque book : Same as local currency

c. Deposit in Currency notes other than OMR. : Exchange commission of half percent (minimum RO. 1/- or US$. 3/- or its equivalent).

d. Withdrawals in currency notes other than : Subject to availability of Foreign OMR. Currency notes (no commission).

e. For dormant account USD. 13/- per month and if the credit balance falls below USD. 150/- and account becomes dormant for the period of 6 months.

3 4. SAVING ACCOUNT

a. Interest : 3% calculated on the minimum balance During month payable at the end of November of each year. b. Passbook : Free of charge c. Closing of Saving Account within one year : RO. 3/- i. Closing of Saving Account if the Account : No charges are to be levied is more than one year old NOTE (1) : The terms and conditions for opening a saving accounts in Foreign Currency is the same as that for current accounts in Foreign Currency, and the provisions of items (c) of that account in addition to the rate of interest for saving accounts shall be applicable to these accounts.

5. CALL ACCOUNTS: Deposits less than R.O. 500/- or its equivalent : No interest in other currency/ies.

6. TERM DEPOSIT – LOCAL CURRENCY: a. The Bank accepts funds for all deposits for fixed period of 1,3,6,9 and 12 months. Deposits for longer period are also accepted. b. Interest Rates : As per the monthly rates quoted by the Management Committee.

(However, in special cases, the General Manager may offer special rates.)

c. Interest shall be paid only on maturity. A penalty shall be payable in all cases where a fixed deposit is withdrawn before the maturity date. In such cases interest will only be paid at a rate equivalent to 1% per annum below the rate applicable for the period for which the deposit has actually been with the bank.

7. TERM DEPOSITS – FOREIGN CURRENCY/IES: (The Bank accepts deposits for fixed periods in most major currencies) a. Interest Rates: U.S.Dollar : As per monthly rates quoted by the Management Committee. Other currencies : Subject to arrangements. b. Deposits in currency notes other than: Exchange commission of half percent (minimum Rials Omani RO. 1/- or USD. 3/- or its eqv.)

4 NOTE: When the customer wishes to deposit foreign currency, prior to accepting the deposit, the Operation Manager should inform the Branch Manager of the amount, type of currency and should obtain its approval. c. Withdrawal in currency notes : Subject to availability of foreign currency notes Other than Rials Omani (no commission) d. Interest Penalty : Interest shall be paid only on maturity. The penalty shall be payable in all cases where the fixed deposit is withdrawn before the maturity date. In such cases interest will only be paid at the rate equivalent to 1% per annum below the rate applicable to the period for which the deposit has actually been with the bank. 8. OUTWARD REMITTANCES:

a. For local remittances : Commission R.O. 1/-

b. For overseas remittances : Commission R.O. 5/- c. Cashier Order on same Sultanate of Oman : Commission R.O. 2.500 d. Cashier Order Muscat Branch : Commission R.O. 2.500 Mail Payment Orders and Draft outside the Oman : Postage R.O. 2/- e. Telegraphic / Transfer charges : Commission RO. 2/-

Swift/Telex Charges: U.A.E. : R.O. 2/- Persian Gulf other than U.A.E. : R.O. 3.500 Other Countries : R.O. 7/- f. Any special clearing cheque transferred through CBO : Commission R.O. 5/- g. Counter value of Foreign Currency Remittances : 1. If paid in Omani Rials at our current : Usual Commission only Selling Rate 2. If paid by debiting a foreign currency : Usual Commission only account. 3. If paid in foreign currency notes : Half percent compensation NOTE: When the customer wishes to pay in foreign currency notes, prior to accepting the currency notes, the Operation Manager should inform the Branch Manager of the amount, the type of currency and should obtain its approval.

9. INWARD REMITTANCES: a. Remittances in Omani Rials from Overseas Branches: - 1. For local remittances : Commission R.O. 1/-

2. For overseas remittances : Commission R.O. 5/- 3. If proceeds is paid by a cashier order : Commission R.O. 2.500 5 4. Credit to the beneficiary’s account : Commission R.O. 2.500 in the same Oman

b. Remittances in Foreign Currencies: - 1. If paid in Omani Rials at our current : Commission R.O. 2.500 buying rate for the currency concerned 2. If credited to a foreign currency : Commission R.O. 2.500 account with us in the same currency 3. If credited to beneficiary’s account in : Commission R.O. 2.500 the currency of the remittance in the same Oman. 4. If remitted elsewhere in the currency : Commission R.O. 2.500 of the remittance mail. Postage R.O. 1/- 5. If paid in currency notes of remittance : Commission half percent (minimum R.O. 1/-) (Subject to availability of foreign currency) 6. Incoming T.T for any other banks: a. Less than USD. 5,000/- : USD. 30/- b. More than USD. 5,000/- : USD. 60/-

NOTE: TELEX CHARGES FOR U.A.E. : R.O. 2/- Iran/Persian Gulf or the UAE : R.O. 3.500 Other Countries : R.O. 7/-

10. IMPORT LETTER OF CREDIT: a. Credit up to and including RO.10,000 or its :Commission 1/8% per month equivalent in other currencies. minimum charges of 3/8% or RO. 17.500 (whichever is the greater) Credits over RO. 10,000 equivalent in other : Commission of 1/8% per month on currencies balance. Minimum charges of 3/8% on RO. 10,000/- plus 3/16% on amount by which exceeds RO.10,000 Postage : RO. 5/- b. Back to back and transferable Letter of Credit : Commission 1/8% per month (flat) minimum charge 3/8% or RO.50/- (whichever is greater) c. Amendment of Letter of Credit : Commission R.O. 17.500 Postage R.O. 2.500 6

d. Extension and Enhancement : Commission of 1/8% per month up to R.O. 10,000 & 1/16% per month for amount exceeding R.O. 10,000

e. Cancellation of L/C after preparation but : R.O. 2.500 before transmission. f. Discrepancy fees : USD. 50/- or equivalent g. Reimbursement commission for L/Cs. : USD. 200/- or equivalent

h. Telex Charges:

COUNTRIES BRIEF TELEX FULL TELEX

U.A.E. R.O. 2/- R.O. 25/- Iran/Persian Gulf other than UAE R.O. 3.500 R.O. 35/- Other Countries R.O. 7/- R.O. 45/- i. Courier’s Charges: R.O. 20/- per credit or amendment.

 Brief Telexes for opening Import Letters of Credit, and amendments of Letter of Credit.  Full Telex for opening “Import Letter of Credit”

10.1 SETTLEMENT OF BILLS UNDER LETTER OF CREDIT: If customer wishes to settle a bill in foreign currency and foreign exchange obligation has been covered by “Forward Exchange Contract” prior to the date of negotiation of documents, in such case the bill may settled in foreign currency and the liabilities may be expressed Rials Omani at the contracted rate. If such forward contract was arranged through other bank (llnd bank not BSI) in Oman a commission of 0.25% must be paid to us as our bank has established the letter of credit.

11. ACCEPTANCE LETTER OF CREDIT:

a. Credits up to and including R.O. 10,000 or its : 1/8% per month. Minimum charges equivalent in other currencies. of 3/8% or R.O. 17.500 (whichever is the greater). b. Credit over R.O. 10,000 or its equivalent in : 1/8% per month on R.O. 10,000 other currencies. 1/16% per month on balance. Minimum charges of 3/8% on R.O. 10,000 plus 3/16% on amount By which the total credit amount exceeds R.O. 10,000.

c. Postage : R.O. 3/- d. Acceptance commission : If the acceptance fall within the period for which the commission has been charged, R.O. 10/- should be

7 charged as acceptance commission. If the above period is exceeded, a commission of 1/8% per month is to be charged until the maturity of the acceptance. 12. EXPORT LETTER OF CREDIT: a. Advising commission : R.O. 10/- b. Amendment Commission : R.O. 6/- c. Negotiation commission : 1.25 per Mille of the L/C amount minimum R.O. 15/- for Islamic Republic of Iran, Oman & for other countries. 1.50 per Mille of the L/C amount minimum R.O. 20/- d. Confirmation charges : Subject to arrangements with the Regional Office. e. Postage : R.O. 5/- per each negotiation. If sent By courier RO. 20/- for each negotiation. f. Transfer of L/C to third party : Commission R.O. 20/-

13. LETTER OF GUARANTEE:

a. Shipping guarantees (missing bill of lading) : Commission R.O. 15/- and other kinds of guarantees where 100% cash margin is held and for Usance L/C. b. Those guarantees for which 100% : Commission R.O. 25/- Fixed Deposit is held c. Bid Bonds, Performance Bonds, Advance Payment : Commission 1/8% per month with of Guarantees and guarantees for post dated minimum 3/8% or R.O. 15/- cheques where less than 100% margin is held (whichever is greater) in case of (after deducting cash margin or Fixed Deposit) deducting fixed deposit, minimum Commission R.O. 25/- 14. BILL FOR COLLECTION (INWARD): 13.1 DOCUMENTARY: a. Sight/Acceptance Bills : Commission of 1/8%, minimum R.O. 17.500 b. Documents free of charge : Commission of ¼% of invoice value, Minimum R.O. 17.500

13.2 CLEAN BILLS (CHEQUES) a. Cheques received from own branches : Commission R.O. 1/- b. Cheques from other banks (abroad) : Commission R.O. 2/-

8 POSTAGE Postage for mail remittance of Inward Bills for Collection R.O. 1/- per bill

TELEX/SWIFT CHARGES

Telex/Swift charges for cable remittance of Inward Bills for Collection are as follows: U.A.E. : R.O. 2/- Persian Gulf other than UAE : R.O. 3.500 Iran : R.O. 5.000 Other countries : R.O. 7/-

15. BILLS FOR COLLECTION (OUTWARD): 14.1 DOCUMENTARY: a. Sight Bills : Commission 1/8%, minimum R.O. 17.500 b. Bills under acceptance : Commission 1/8% minimum R.O. 17.500 c. Postage : R.O. 2/- per bill : R.O. 5/- per bill, including docs. : R.O. 20/- for bills sent by courier 14.2 CLEAN (CHEQUES): a. Cheques drawn on other banks (abroad) : Commission R.O. 2/- and postage R.O. 2/- if sent by courier R.O. 20/-

CHEQUES DISCOUNTED:

Interest : According to the current normal rate of interest or the rate applicable to the particular credit file. Commission for cheque discount : R.O. 0.400 per 1,000/-

16. LOANS:

a. Commission : R.O. 0.400 per 1,000/- b. Interest : Interest should be computed on daily balance and should not be debited to the account at less than monthly intervals. c. Charges for topping up to reschedule of an : R.O. 5/- existing loan. d. Installment waive charges that could be levied only : R.O. 5/- if the installment is waived at the request of the customer 9 (No charges shall be levied if the bank if offering this as a gesture on various occasions such as Eid, National Day, etc.)

e. Charges for payment or pre closure of the loan : 1% of the outstanding balance before the actual due date.

(No charges shall be levied if the outstanding balance as on the date of pre payments is R.O. 50,000/- or below).

17. OVERDRAFT

a. Interest : Interest should be computed on daily balance and should not be debited to the account at less than monthly intervals. 18. TRUST RECEIPT:

a. Interest : Interest should be computed on the principal outstanding and debited to the customer’s account at the end of settlement. OTHER SERVICES

19. STATUS REPORTS:

By Mail : Nil

By Telex and Fax:

Within Oman : R.O. 1/- Emirates : R.O. 2.500 Iran/Persian Gulf other than UAE : R.O. 3.500 Other countries : R.O. 7/-

20. AUDIT CONFIRMATION

a. Audit confirmation : R.O. 5/- per confirmation

21. ISSUING ASSIGNMENT LETTER : R.O 75/- Per letter