Key facts
- Oman has established the International Financial Centre of Oman (IFC Oman) through a Royal Decree.
- The IFC Oman will have its own dedicated law and operate with administrative, financial, and legislative independence.
- The centre aims to diversify Oman's economy and position it as a global financial hub.
- It will offer incentives and tax exemptions to attract investments.
- A former head of communications from the UK's Financial Conduct Authority (FCA) has joined the initiative.
Oman has officially established the International Financial Centre of Oman (IFC Oman) through Royal Decree No 8/2026, signaling a strategic move to diversify its economy and enhance its standing as a global financial services hub. The new centre is designed to attract capital and foster innovation by creating a trusted ecosystem for advanced financial services.
The IFC Oman will operate with administrative, financial, and legislative independence, governed by a board appointed by His Majesty the Sultan. It will feature three independent entities: the IFC Oman Authority, Regulator, and Dispute Resolution Authority. The centre, headquartered in Madinat Al Irfan, aims to attract investments through a package of incentives and tax exemptions, potentially lasting up to 50 years. The initiative aligns with Oman Vision 2040 objectives, focusing on economic diversification and investment attraction.
In line with these developments, a former head of communications for the UK's Financial Conduct Authority (FCA) has reportedly joined the push to establish the IFC Oman. The centre is expected to finalize its legislative and regulatory frameworks and commence full operations within the current year, seeking to become a strategic destination for financial institutions and investors.