New International Financial Centre Launched in Oman

The International Financial Centre of Oman (IFC Oman) has been established to provide international investors, financial institutions and professional services firms with a legal and regulatory framework designed to facilitate cross-border business.

According to a statement from the centre, the framework is modelled on leading financial jurisdictions and aims to provide greater legal certainty and transparency for global investors.

Sultan Haitham bin Tarik has appointed the centre's board of directors, chaired by Sayyid Theyazin bin Haitham Al Said, Deputy Prime Minister for Economic Affairs, alongside senior economic officials.

IFC Oman will operate through three separate institutions responsible for licensing and operations, financial regulation and dispute resolution. The structure is intended to preserve regulatory independence and align with international standards, including those of the Financial Action Task Force and the International Organization of Securities Commissions.

The initiative comes as Oman continues to strengthen its economic profile. Public debt declined to 36.5% of GDP by the end of 2025, down from 68% in 2020, while the country recently regained investment-grade status following sovereign credit upgrades linked to stronger public finances and economic reforms.

According to official figures, foreign direct investment reached approximately USD 69.4 billion by the end of the third quarter of 2024, representing a 17.6% increase over five years. Non-oil sectors now account for around 70% of economic output, while the International Monetary Fund expects the economy to grow by 3.5% in 2026.

Positioned between the Gulf, East Africa and South Asia, IFC Oman aims to connect international capital with opportunities across the Gulf, Africa and Asia while supporting the Sultanate's long-term economic diversification strategy.