Thursday, November 30
03:52 PM

Ministerial decision issued to tighten funding of non-profit organisations


Muscat – H E Laila Ahmed al Najjar, Minister of Social Development, has issued a ministerial decision (No 36/2023) related to non-profit organisations and combatting terrorism financing and money laundering.

The decision states that all organisations registered with the ministry must submit a record of the names and date of birth of members and all contributions they make.

Organisations should also submit detailed records of all international and domestic transactions to identify all funds spent and collected.

The decision stipulates that all organisations must keep their records and books for ten years and submit these to the concerned authorities upon request.

The decision also stipulates that organisations must not receive more than RO100 from their members. Funding should be through official banking channels only.

The decision also states that all non-profit organisations must seek the assistance of an audit office for all financial and administrative records and all their activities.

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