News
Oman Bans Pyramid Marketing, Awards RO 5000 Fine to Offenders
Muscat: The Ministry of Commerce, Industry and Investment Promotion has issued a Decision (No. 105/2021) prohibiting the sale, publicity and promotion of goods or commodities or products or services via network or pyramid marketing. The decision is based on the Trade Law promulgated under Royal Decree No. 55/90.
Article (1) of the decision refers to network or pyramid marketing as any means by which providers, marketers or promoters of goods or services ask the consumer to select a list of other consumers to lure them into buying the goods or receive the services in exchange for benefits that the first consumer (recruiter) gets, and then build downline pyramids groups or networks with the purpose of accumulating wealth or gathering money from the largest number of subscribers to the network or the pyramid group.
Article (2) of the decision bans the use of any electronic or non-electronic network/pyramid marketing methodology to purchase, sell, exchange, publicise or promote any goods or services.
Article (3) imposes a fine of RO 5,000 against any person who violates the provisions of this decision. The fine will be doubled/multiplied in the event of further violations.
The decision takes effect from the day following its date of publishing in the Official Gazette.
To this effect, Mubarak Mohammed Al-Dohani, Director-General of Commerce at the Ministry of Commerce, Industry and Investment Promotion, said that the decision to ban network marketing was issued as a step to stem commercial deception, protect completion among establishments and companies and safeguard individuals. Many countries around the world have banned this type of commercial practices, he affirmed.
-
OER Magazines2 months ago
OER, September 2024
-
Uncategorized1 month ago
Oman Oil Marketing Company partners with Ihsaan Association to support its activities
-
Commodities2 months ago
Gold Rangebound as Investors Brace for Key US Economic Data
-
OER Magazines3 weeks ago
Signature, October 24
-
Alamaliktistaad Magazines3 weeks ago
Al-iktisaad, October 24
-
Banking & Finance2 months ago
Apple Pay Officially Launched in Oman
-
Oil & Gas1 month ago
OQEP Appoints United Securities as Liquidity Provider Ahead of Landmark MSX Listing
-
Lifestyle2 months ago
Royal Opera House Muscat Welcomes First Shows of its 2024/25 Season