Oman Global Financial Centre established

The establishment of the “Oman Global Financial Centre”, approved by the Council of Ministers at its meeting, marks a calculated strategic step based on comprehensive studies of global and regional experiences.

The Centre aims to create an attractive environment for investments, commercial banks and global financial institutions specialising in commercial and Islamic banking, financial and insurance services and other supporting activities. It also seeks to transfer knowledge and provide high quality jobs in the financial sector.

Sultan bin Salem Al Habsi, Minister of Finance and Chair of the Supervisory Committee for the Centre’s establishment phase, said the creation of the Centre will strengthen the role of the financial sector in achieving economic diversification targets. This will align with efforts to develop the financial and investment sectors and with the future directions to which the Sultanate of Oman aspires.

The Minister added that the Centre will operate as an enabling environment offering multiple incentives for managing investments, establishing companies and forming business partnerships. It will rely on facilitating the movement of capital and financial services and on supporting financial innovation.

He further explained that the Centre will benefit from the advantages enjoyed by the Sultanate of Oman, including political stability, investment appeal and economic partnerships with countries around the world.

This is an unofficial English version of an Arabic report. To view the official Arabic text, click here.