Oman Creates Financial Centre Following GCC Neighbour
Oman has approved the establishment of a new financial centre, joining other Gulf Cooperation Council (GCC) countries in developing a global hub for financial services and innovation. The International Financial Centre of Oman (IFC Oman) will be based in Madinat Al Irfan and designed to operate with administrative, financial, and legislative independence under its own framework.
The initiative aims to attract financial investment and support a range of sectors by offering incentives and tax exemptions for up to 50 years. Three distinct bodies — the International Financial Centre of Oman Authority, the Regulator, and the Dispute Resolution Authority — will manage regulatory, operational, and legal functions.
Officials say the centre will develop regulatory and operational structures this year to begin full activity, contributing to economic diversification and financial stability as outlined in Oman’s broader development goals. The move reflects Oman’s ongoing efforts to build a competitive and transparent environment for institutions and investors, following similar efforts by regional peers such as Dubai and Qatar to establish international financial hubs.
Source:
Salaam Gateway. (2026). Oman establishes financial centre following GCC peers. https://salaamgateway.com/story/oman-establishes-financial-centre-following-gcc-peers
