Oman is seeking to strengthen its position as a destination for international investment, supported by an investment-grade credit rating, economic reforms and regulatory frameworks aligned with international standards.
A key element of that strategy is the International Financial Centre of Oman (IFC Oman), which was established to provide international investors, financial institutions, and professional services firms with a legal and regulatory framework mirroring the practices of the world's leading financial jurisdictions.
This environment supports the structuring of investments and the conduct of cross-border business with exceptional clarity and legal certainty, said the IFC Oman in a statement.
The Centre is intended to facilitate cross-border business and investment activity.
In a move underscoring the government's support for the project, Sultan Haitham bin Tarik has appointed the Centre's Board of Directors, chaired by Sayyid Theyazin bin Haitham Al Said, the Deputy Prime Minister for Economic Affairs along with senior Omani economic leaders.
The rapid progress in operationalising the Centre and the high-level composition of its Board reflect the sovereign commitment to this strategic project.
IFC Oman operates through three separate institutions responsible for licensing and operations, financial regulation, and dispute resolution. The structure is designed to maintain regulatory independence and transparency.
The centre says its framework is aligned with international standards, including those of the Financial Action Task Force (FATF) and the International Organization of Securities Commissions (IOSCO).
Speaking on the occasion, Sayyid Theyazin said: "Our goal is to become the international financial centre of choice. IFC Oman is designed as a trusted, innovative, and business-friendly hub that contributes sustainably to the national economy. By building an integrated ecosystem based on best global practices, an advanced legislative and regulatory framework, and an efficient business environment, the Centre will leverage the unique competitive advantages of the Sultanate of Oman."
The board's formation comes as Oman records improvements in several economic indicators. The country regained its investment-grade credit rating following a series of sovereign upgrades linked to stronger public finances, lower debt levels and economic reforms.
Public debt fell to 36.5% of gross domestic product (GDP) by the end of 2025 from 68% in 2020, according to official data. The International Monetary Fund projects Oman's economy will expand by 3.5% in 2026.
Economic diversification has also accelerated, with non-oil sectors accounting for about 70% of economic output, reflecting progress toward the objectives of Oman Vision 2040.
Foreign direct investment in Oman reached approximately $69.4 billion by the end of the third quarter of 2024, representing growth of 17.6% over the previous five years, according to official figures.
Oman's location at the crossroads of the Gulf, East Africa and South Asia is viewed by policymakers as a competitive advantage, providing access to international trade routes and shipping corridors.
Against a backdrop of growing influence from Gulf sovereign wealth funds, which collectively manage trillions of dollars in assets, Omani officials say IFC Oman will help connect international capital with investment opportunities across the Gulf, Africa and Asia while supporting the country's long-term economic diversification strategy.
