MUSCAT : “The establishment of the Oman Global Financial Centre represents a strategic and well-studied step based on international and regional experiences,” Oman’s Finance Minister Sultan bin Salim Al Habsi said, outlining the government’s objectives behind the creation of the new financial hub.
In a statement following the cabinet’s approval of the centre, Al Habsi said the initiative would play a key role in strengthening the financial sector and supporting Oman’s economic diversification goals, in line with the sultanate’s long-term development priorities.
He said the Oman Global Financial Centre would complement ongoing efforts to develop the financial and investment ecosystem, adding that it is designed to align with future-oriented strategies for growth and competitiveness.
The minister said the centre would be equipped with a range of features that enable the efficient management of investments, the establishment of companies and the development of commercial partnerships, supported by regulations that facilitate the movement of capital and financial services and encourage financial innovation.
Al Habsi said the centre would also leverage Oman’s strengths, including political stability, investment attractiveness and its expanding network of international economic partnerships, positioning the sultanate as a competitive destination for global financial activity.
The Oman Global Financial Centre, approved by the Council of Ministers chaired by Sultan Haitham bin Tarik, will operate with legislative, administrative and regulatory independence under a modern financial, legal and judicial framework aligned with international standards, according to state media.
The move is part of broader government reforms aimed at strengthening the non-oil economy, deepening capital markets and enhancing Oman’s role in regional and global finance.
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