This research addresses the legal framework of the principle of banking secrecy under Omani Banking Law, issued by Royal Decree No. (114) of 2000, and compares it with the Central Bank and Banking System Law No. (194) of 2020, with reference to the French Monetary and Financial Law as amended by Law No. (317) of 2024. This research emphasises on two elements: First Element: This section explains the conceptual framework of banking secrecy, discussing its definition and distinguishing attributes, and the extent of its independence from professional confidentiality obligations. It further elaborates on the obligation to maintain banking secrecy, and explores its significance in serving the interests of the client, the bank, and public interest. Additionally, this section will explain the legal nature of the obligation to maintain banking secrecy and analyse its content and scope. Second Element: This part studies the regulatory framework of the duty to maintain banking secrecy, by exploring its objective and subjective angles. Additionally, it evaluates the key limitations or exceptions that may apply to the principle of banking secrecy. To address the objectives specified in the abovementioned elements, the research is divided into two chapters. Subsequently, the research reached multiple conclusions, succeeded by a set of recommendations and a proposed draft law, titled "Confidentiality of Banking Data and Transactions."