Oman’s first global financial centre is expected to begin registering companies by the end of 2026 and launch full licensing operations next year, according to the IFC Oman Authority.
The immediate priority is completing the legal framework for the International Financial Centre of Oman, authority chair Mahmood Al Aweini said in a statement. A package of laws covering business registration, licensing, financial services regulation and independent dispute resolution is expected to be issued shortly.
IFC Oman is also preparing to test its digital registry. Once operational, the system will allow companies seeking to establish a base in the centre to submit applications online.
Oman’s cabinet approved the centre’s establishment in January as part of efforts to diversify the economy and strengthen the country’s financial and investment sectors.
The new centre will enter a competitive GCC market. Abu Dhabi Global Market issued more than 1,800 licences in the first half of the year, while the Dubai International Financial Centre reported more than 10,000 registered companies by the end of the same period. New registrations at the Qatar Financial Centre rose 37 percent year on year.
Source: AGBI
