Oman’s Bank Muscat will report impairment charges of up to $39m after a number of prepaid cards issued by the bank were compromised.

The RO15m ($39m) fraud occurred outside Oman and comprised twelve travel cards.

Bank Muscat said in a statement that "no customers have suffered any financial loss and no other credit or debit cards issued by Bank Muscat have been affected."

The Oman bank added it is working with all stakeholders to investigate further and to establish any losses arising from these transactions.

"We will inform the market of any material developments," the bank said.

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