The Council of Ministers of Oman has approved the establishment of the ‘Oman Global Financial Centre’, a strategic step towards diversifying the economy and enhancing the financial sector’s growth.
The initiative is set to play a pivotal role in boosting the country’s GDP, attracting international capital, and cultivating a dynamic investment ecosystem, positioning Oman as a key global financial hub.
The new Oman Global Financial Centre, set to operate with full legislative, administrative, and regulatory autonomy, is designed to foster an attractive environment for commercial banks and specialized global financial institutions across sectors such as commercial and Islamic banking, finance, insurance, and related services.
In addition to enhancing the financial ecosystem, the centre aims to drive knowledge transfer and create high-quality job opportunities, supported by a new legal, judicial, and financial framework aligned with global standards.
Driving Economic Diversification via Oman Global Financial Centre
HE Sultan bin Salim al Habsi, Minister of Finance and Chairman of the Supervisory Committee for the Oman Global Financial Centre’s establishment phase, said that the centre would strengthen the role of the financial sector in achieving economic diversification targets, in line with ongoing efforts to develop the financial and investment landscape and future aspirations of the sultanate.
HE Habsi added that the centre will operate as an enabling platform offering a range of incentives to support investment management, company formation, and the establishment of commercial partnerships, while facilitating capital flow, financial services, and promoting financial innovation.
The Omani Minister further noted that the Oman Global Financial Centre will leverage Oman’s key strengths, including political stability, investment attractiveness, and extensive economic partnerships with countries around the world.
