RIYADH: Oman is set to establish an International Financial Center, in a move to diversify the national economy and position the nation as a leading global hub.
According to a press release, the new establishment aims to draw international investment, advance innovation across various services, and strengthen Oman’s standing in the global financial ecosystem. It will function with full administrative, regulatory, and legislative autonomy from its headquarters in Madinat Al Irfan.
With a legal decree now in place, the coming months will focus on finalizing the regulatory framework, engaging stakeholders, and establishing operational structures.
The aim is to launch the center’s activities and commence full operations before the end of the year, marking a significant milestone in realizing Oman Vision 2040.
Officials hailed the decree as a transformative step. The president of the Oman Investment Authority stated that the center reflects the Sultan’s vision to “create an attractive investment environment” and will provide a “secure and transparent” hub distinguished by stability and efficiency.
