 In 2013, the bank was hit by a $39 million fraud scheme using prepaid travel cards accessed from outside of Oman.This led to an impairment charge impacting 10.5% of Bank Muscat's earnings for the period.In 2016, the United States Department of the Treasury secretly issued a license to Bank Muscat to convert $5.7 billion in Iranian overseas reserves from Omani rials into euros via United States dollars, something not normally permitted due to United States sanctions against Iran.