JAKARTA – Oman is moving forward with plans to create an International Financial Center, a strategic initiative designed to diversify the sultanate’s economy and establish the nation as a premier global financial destination.

Strategic Vision for Economic Transformation

According to an official announcement, the new institution seeks to attract international capital, foster innovation across diverse service sectors, and enhance Oman’s position within the worldwide financial landscape. The center will operate with complete administrative, regulatory, and legislative independence from its base in Madinat Al Irfan.

Following the issuance of a legal decree, upcoming months will concentrate on completing the regulatory architecture, consulting with stakeholders, and building operational infrastructure.

The objective is to initiate the center’s operations and achieve full functionality before 2026 concludes, representing a crucial achievement in fulfilling Oman Vision 2040 objectives.

Leadership Endorsement

Officials characterized the decree as a transformational measure. The president of the Oman Investment Authority indicated that the center embodies the Sultan’s vision to establish an appealing investment climate and will serve as a protected and transparent hub characterized by stability and effectiveness.

“The aspiration is that the center will become a strategic destination and a source of capital inflows,” stated Abdulsalam Mohammed Al-Murshidi, connecting it directly to Oman’s wider ambitions of economic diplomacy and diversification.

Comprehensive Legal Framework

A distinguishing characteristic of IFC Oman involves its legal foundation. The center will construct an extensive regulatory and judicial system conforming to international benchmarks and grounded in English Common Law, a framework valued by global investors and financial institutions.

To guarantee strong and transparent governance, the institution will be supervised by an IFC Oman board designated by Sultan Haitham bin Tariq.

Three autonomous entities will function under the legislation: a management authority, a regulatory body for supervision, and a dispute resolution mechanism to address legal issues.

Attractive Investment Proposition

Designed to attract investment capital, IFC Oman will present an appealing suite of benefits for eligible companies, including tax exemptions extending up to 50 years. The center intends to concentrate initially on financial operations and their ancillary sectors.

Mahmood Abdullah Al-Aweini, chairman of the IFC Oman Executive Committee, framed the initiative as a logical evolution following Oman’s recent credit rating upgrades. He stressed that IFC Oman will provide competitive pricing, regulatory flexibility, and dependable services to facilitate business formation and international market entry.

“Together with our strategic partners, we aim to work toward bringing this ambitious vision into reality,” Al-Aweini declared, expressing optimism about the center’s prospects.

The establishment of IFC Oman represents a significant milestone in the sultanate’s ongoing efforts to reduce hydrocarbon dependency and create a more diversified, resilient economy capable of competing on the global stage.

Original Article:

Arab News. (2026, January 16).Oman to establish international financial center to drive economic vision.  Retrieved from https://www.arabnews.com/node/2629168/business-economy