Oman Global Financial Centre to Boost Investment and Financial Innovation

Oman Global Financial Centre to Attract Banks and International Financial Institutions

Muscat:  The establishment of the Oman Global Financial Centre, approved by the Council of Ministers during its meeting today, represents a strategic and well-calculated step grounded in comprehensive studies of global and regional financial centre models.

The Centre aims to create an attractive and competitive environment for investment, commercial banks, and international financial institutions specializing in commercial and Islamic banking, financial services, insurance, and related support activities. It also seeks to facilitate knowledge transfer and generate high-quality employment opportunities within the financial sector.

Sultan Salim Al Habsi, Minister of Finance and Chairman of the Supervisory Committee for the Centre’s establishment phase, affirmed that the Oman Global Financial Centre will enhance the financial sector’s contribution to economic diversification objectives. He noted that the initiative is aligned with ongoing national efforts to develop the financial and investment ecosystem in line with Oman’s long-term economic aspirations.

In a statement to the Oman News Agency (ONA), the Minister explained that the Centre will function as an enabling platform offering a range of incentives related to investment management, company incorporation, and the formation of commercial partnerships. These incentives are designed to facilitate capital flows, strengthen financial services, and support financial innovation.

He further emphasized that the Centre will capitalize on the Sultanate of Oman’s key competitive advantages, including political stability, an attractive investment environment, and strong economic partnerships with countries across the globe, positioning Oman as a regional and international financial hub.