MUSCAT: His Majesty Sultan Haitham bin Tarik has issued a Royal Order appointing the Board of Directors of the International Financial Centre of Oman (IFCO), appointing His Highness Sayyid Theyazin bin Haitham Al Said, Deputy Prime Minister for Economic Affairs, as Chairman of the Board.
The appointments mark a key milestone in the development of the International Financial Centre of Oman, a strategic initiative aimed at strengthening the Sultanate’s position as a regional and global destination for investment, finance and business.
The board comprises senior government officials, financial sector leaders and international experts. His Excellency Sultan bin Salim Al Habsi, Minister of Finance, has been appointed Deputy Chairman, while members include His Excellency Abdulsalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority; His Excellency Ahmed bin Jaafar Al Musalmi, Governor of the Central Bank of Oman; His Excellency Mahmoud bin Abdullah Al Awaini; His Excellency Mulham bin Basheer Al Jarf; and an independent international expert.
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Commenting on the appointments, HH Sayyid Theyazin said the Royal confidence placed by His Majesty in appointing the board reflects the importance of the project as a cornerstone of Oman Vision 2040 and a key contributor to building a diversified, competitive economy that is open to global opportunities.
He said the centre aspires to become a leading international financial destination for companies and investors, serving as a trusted and innovative platform for business and investment while creating sustainable value for the national economy.
HH Sayyid Theyazin added that the centre will build on Oman’s competitive advantages to enhance value for investors and operating companies, while reinforcing the Sultanate’s standing as an attractive destination for investment and business at both regional and international levels.
Sultan bin Salim Al Habsi, Minister of Finance and Deputy Chairman of the Board, described the centre as an integrated national strategic project that links Oman’s long-term economic vision with internationally recognised standards of governance and institutional integrity.
He said that through a framework based on sound governance and effective regulation, the centre would send a strong signal of confidence to international investors and further strengthen Oman’s position as a trusted destination for capital.
The board will oversee the completion of the centre’s legislative, regulatory and operational frameworks, provide strategic direction and establish governance mechanisms based on integrity, transparency and accountability. These measures are expected to enhance international confidence in the centre and support the launch of its initial operations by the end of 2026.
Established under Royal Decree No. 8/2026, the International Financial Centre of Oman is a legally and legislatively independent financial centre operating under a legal framework based on common law principles.
The centre consists of three entities: the Authority of the International Financial Centre of Oman, the Regulatory Authority of the International Financial Centre of Oman, and the Centre’s Dispute Resolution Authority.
The project forms part of Oman’s Vision 2040 agenda to diversify the economy, expand the financial services sector and position the Sultanate as a trusted financial gateway connecting the Gulf, South Asia and East Africa in line with international best practices.
