Oman to Launch International Financial Center to Accelerate Economic Transformation

Oman is preparing to establish an International Financial Center as part of a major initiative to diversify its economy and strengthen its position in the global financial landscape.

The new center is designed to attract international investors, promote innovation across financial and professional services, and enhance Oman’s competitiveness as a regional business hub. It will operate with full administrative, regulatory, and legislative independence from its headquarters in Madinat Al Irfan.

With a legal decree now issued, authorities will focus in the coming months on completing the regulatory framework, engaging key stakeholders, and building the operational structure. Officials aim to begin activities and achieve full operational status before the end of the year, marking a key milestone in advancing Oman Vision 2040.

Leaders have described the initiative as a transformative step for the country’s economic future. The head of the Oman Investment Authority said the center reflects the Sultan’s vision to create a welcoming and secure investment climate, offering transparency, stability, and efficiency for global businesses.

The center will be built on a strong legal foundation, developing a modern regulatory and judicial system aligned with international standards and based on English Common Law — a framework widely trusted by global investors.

Oversight will be provided by a dedicated board appointed by Sultan Haitham bin Tariq, ensuring high standards of governance and accountability. Under the new structure, three independent bodies will operate: a management authority, a regulatory authority, and a dispute resolution entity responsible for legal matters.

To attract high-value investment, the International Financial Center will introduce a range of incentives for qualifying companies, including long-term tax exemptions of up to 50 years. Initial operations will focus on financial services and related support industries, with plans to expand into broader sectors over time.

Officials involved in the project say the initiative builds on Oman’s recent improvements in credit ratings and investor confidence. The center is expected to offer competitive operating costs, flexible regulations, and streamlined services to help companies establish operations and access global markets more easily.

The launch of the International Financial Center marks a significant step in Oman’s journey toward becoming a leading destination for finance, investment, and economic diplomacy in the region.