Oman Prepares to Launch New International Financial Centre, Joins World Alliance
Oman is accelerating the establishment of its new International Financial Centre (IFC Oman), with significant progress being made on its legal framework, rulebook, and registry system. A package of laws crucial for business registration, licensing, financial services regulation, and an independent dispute resolution framework is expected to be issued shortly. These laws will provide the legal basis for IFC Oman's authorities to adopt initial regulations governing activities within the center. Concurrently, a registry system is entering its testing phase, which will allow businesses to submit online applications for establishing a base in IFC Oman. Mahmood Al Aweini, Chair of the IFC Oman Authority Board, emphasized that the center aims to offer a stable and competitive business environment, leveraging Oman's strategic location and global connections. IFC Oman was also approved as a member of the World Alliance of International Financial Centres in September.
