الملخص الإنجليزي
The Omani Commercial Law was issued on the 18th of Dhu al-Hijjah1410 AH/11th of July 1990 AD, and the banking sector was limited to the traditional banking sector; thus, the law regulated their commercial transactions. Then, Royal Decree No. 62/2012 amended the banking law requiring licensing to practice Islamic banking business. Thus, in 2013 AD, a new banking sector began operating, with adherence to Islamic Sharia as the basis of its operations, and there are significant differences between the two sectors in terms of principles and effects. The legislation regulating Islamic banking work, which is the Banking Law (69/2012) and (the regulatory and supervisory framework for Islamic banking) issued by the Central Bank of Oman, have not offered a regulation of the documentary credit for Islamic banking business a regulated framework for documentary credits in Islamic banking operations. Until now, there has been no amendment in the Trade Law that consider the nature of business activities for Islamic banks, which may cause legal problems. Therefore, this research aims toanswer the extent of compatibility between Article (377), which regulates documentary credits, and the nature of Islamic banking operations in partially covered documentary credits. The research came out with results, the most important of which are: the contradiction between the phrase: "The documentary credit contract is considered independent of the contract that opened the credit, and the bank remains unrelated to this contract" from Article (377) and the practice of Islamic banking in documentary credits that are not fully covered, whether they are partially covered or not. Thus, the research recommends two options: adding a legal regulation in the laws, circulars, regulations, or guidelines that addresses the statement, and regulation of documentary credits in Islamic banks, including its three categories: fully covered, partially covered, and uncovered; adding a phrase in Article (377) of the Omani Commercial Law that requires considering the nature of Islamic banking operations.
