Oman has approved the creation of the Oman Global Financial Centre. The new hub aims to attract foreign investment and expand advanced financial services. Furthermore, it seeks to strengthen Oman’s position in regional and global capital markets.
The decision came during a Council of Ministers meeting chaired by Sultan Haitham bin Tarik. Moreover, officials said the centre is part of a broader plan to improve the investment climate and support long-term economic diversification.
The centre will operate with legislative, administrative, and regulatory autonomy. Its framework aligns with international standards. In addition, it will provide a competitive platform for banks, investment firms, and specialised financial institutions seeking regional access.
Officials explained that the project builds on lessons from global financial hubs. The centre will support commercial and Islamic banking, insurance, asset management, and related services. Furthermore, it aims to transfer knowledge and create high-value jobs in Oman’s financial sector.
Sultan bin Salim Al Habsi, Minister of Finance and head of the supervisory committee, said the initiative will boost investment management, company formation, and commercial partnerships. He added that it creates a flexible environment that encourages capital flows and financial innovation.
The Council of Ministers also reviewed economic progress. In particular, officials highlighted improvements in fiscal balance, public investment, and social development during 2025. They reaffirmed the private sector’s central role in implementing Oman’s development plans.
Sultan Haitham stressed the need for coordinated efforts across state institutions. As a result, the government aims to generate employment, stimulate GDP growth, and expand high-potential sectors. He also urged government digitisation, including AI-powered public services through the Unified Government Services Portal.
The centre will act as a magnet for foreign direct investment. At the same time, it will serve as a platform for regional financial integration. Therefore, officials said it will help Oman become a hub for cross-border finance, Islamic financial services, and emerging-market investment.
The move also supports Oman’s fiscal and structural reforms under Vision 2040 and the Eleventh Five-Year Development Plan (2026–2030). By combining regulatory independence with international best practices, the government expects the Oman Global Financial Centre to drive the country’s financial growth.
