Oman Sultan Appoints Board of Directors for International Financial Centre

Muscat, The Gulf Observer: His Majesty Sultan Haitham bin Tarik has issued a Royal Order appointing the members of the Board of Directors of the International Financial Centre of Oman (IFCO), marking a significant milestone in the establishment of the centre and reinforcing the Sultanate’s ambitions to strengthen its position as a leading global financial hub.

The Board will be chaired by HH Sayyid Theyazin bin Haitham Al Said, Deputy Prime Minister for Economic Affairs. Sultan bin Salim Al Habsi, Minister of Finance, will serve as Deputy Chairman. Other members include Abdulsalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority; Ahmed bin Jaafar Al Musalami, Governor of the Central Bank of Oman; Mahmoud bin Abdullah Al Awaini; Mulham bin Basheer Al Jarf; and an independent international expert.

Commenting on the appointment, HH Sayyid Theyazin bin Haitham Al Said said the Royal confidence placed in the Board reflects the strategic importance of the project as a key pillar of Oman Vision 2040 and a major contributor to building a diversified and competitive economy open to global opportunities.

He noted that the International Financial Centre aims to become a leading global destination for companies and investors by providing a trusted and innovative environment for business and investment. The centre is expected to leverage Oman’s competitive advantages to create sustainable value for the national economy while strengthening the Sultanate’s attractiveness as a regional and international investment destination.

Minister of Finance Sultan bin Salim Al Habsi described the centre as an integrated national strategic project that combines Oman’s long-term development vision with internationally recognized standards of governance and institutional integrity. He said the centre would enhance investor confidence through robust governance structures and a reliable regulatory framework.

The Board has been tasked with overseeing the completion of the centre’s legislative, regulatory and operational frameworks, providing strategic guidance, and establishing governance mechanisms based on transparency, integrity and accountability. These measures are expected to strengthen international confidence in the centre and facilitate 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. It comprises 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 establishment of the centre forms part of Oman Vision 2040 and is aimed at supporting economic diversification, advancing the financial services sector, and reinforcing Oman’s role as a trusted gateway connecting the Gulf, South Asia and East Africa in accordance with the highest international standards.