MUSCAT : Oman’s cabinet has approved the establishment of the Oman Global Financial Centre, a new financial hub designed to attract international investment and strengthen the sultanate’s role in regional and global capital markets.
The decision was taken during a meeting of the Council of Ministers chaired by His Majesty Sultan Haitham bin Tarik, who endorsed measures aimed at enhancing the investment climate and supporting long-term economic diversification.
The centre will operate with legislative, administrative and regulatory independence, and will be governed by a modern financial, legal and judicial framework aligned with global standards, officials said.
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Authorities said the new institution is expected to support the development of advanced financial services, improve market efficiency and provide a competitive platform for international firms, investors and financial institutions seeking access to Oman and the wider region.
The move comes as Oman continues to implement fiscal and structural reforms to strengthen public finances, promote private-sector growth and reduce reliance on hydrocarbons, in line with its long-term economic diversification strategy.
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