Muscat — Oman’s banking system now allows cheques to be partially paid when the issuer does not have enough funds to cover the full amount, a change aimed at reducing cheque returns and easing cash-flow pressures for businesses and individuals.
The partial payment system enables banks to debit and pay whatever balance is available in the issuer’s account at the time a cheque is presented, instead of rejecting the cheque outright for insufficient funds.
What happens when a cheque is presented?
When a beneficiary submits a cheque, the bank checks the issuer’s available balance. If the full amount is available, the cheque is settled as usual. If funds are insufficient, the bank pays the available amount and records the unpaid balance.
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The beneficiary receives the original cheque stamped “Partially Paid” along with a partial payment certificate that shows how much has been paid and how much remains outstanding .
Is acceptance optional?
No. Partial payment is mandatory and beneficiaries cannot refuse it. Any available balance must be debited, regardless of the cheque amount, with no minimum or maximum threshold .
What if there are no funds at all?
If the issuer’s account has zero available balance at the time of presentation, the cheque is treated as a bounced cheque under existing procedures .
Can the cheque be presented again?
Yes. A cheque can be presented up to three times to recover the remaining unpaid amount. However, re-presentation must be done in person at the same bank branch and is not allowed through digital channels .
Which cheques are excluded?
The system does not apply to foreign currency cheques issued by banks outside Oman, Omani rial cheques presented by foreign banks, or cheques used for interbank settlements .
Are there any charges?
Cheque return charges continue to apply to the cheque issuer, in line with banks’ existing fee schedules, even when partial payment is made .
Why it matters
Banks say the system is designed to limit legal disputes linked to returned cheques, improve liquidity for cheque recipients, and make the payment system more flexible while maintaining accountability for issuers.
