Oman has launched the International Financial Centre of Oman to attract capital inflows and grow its financial services sector. Furthermore, the initiative strengthens Muscat’s role as a regional financial hub and supports economic diversification.
The centre, located in Madinat Al Irfan in Muscat, operates with full administrative, financial, and legislative independence. Additionally, its regulators follow English Common Law principles, ensuring international standards govern all operations.
The authorities license firms, enforce regulations, and resolve disputes directly. Consequently, investors gain a transparent and competitive environment that supports accountability and efficient decision-making.
To draw global firms, the centre offers long-term incentives. Companies can enjoy tax exemptions and financial benefits for up to 50 years. Moreover, these advantages apply to core financial activities and related services, increasing investment appeal.
Oman expects banks, asset managers, insurance companies, and fintech firms to establish operations at the centre. In addition, it will provide a gateway to regional markets, enhancing competitiveness and encouraging long-term commitments.
The centre focuses on creating high-skill jobs. It will employ experts in risk management, compliance, innovation, and corporate services while attracting global talent to strengthen the workforce.
Officials will finalise regulations and build operational structures in the coming months. They plan to start full operations later this year. Analysts describe the centre as a key milestone in Oman’s Vision 2040 economic diversification strategy.
Oman aims to deepen its role in global capital markets and reduce reliance on oil revenues. The government actively seeks to create a stable, investor-friendly environment for international companies.
Recent reforms have improved Oman’s investment climate, and foreign direct investment inflows continue to rise. Investors increasingly view the country as a credible alternative to other regional hubs.
Experts predict the centre will strengthen Oman’s financial sector, expand capital markets, and foster innovation. Furthermore, the centre should attract long-term investments and integrate Oman further into global financial networks.
