MUSCAT, Oman, October 13, 2026 (EZ Newswire) -- The International Financial Centre of Oman (IFC Oman) is preparing to issue the laws that will underpin its operations and to begin testing its digital registry, as it moves towards registering companies later this year and launching full licensing operations in 2027, the Centre said on Oct. 10 following a board meeting on Oct. 8.

A package of laws covering business registration and licensing, financial services regulation and an independent dispute resolution framework is due to be issued shortly. These laws give the Centre’s authorities the legal basis to adopt an initial set of regulations and rules governing activities conducted in and through IFC Oman. In parallel, a registry system will move into testing, allowing businesses to apply online to establish a presence in the Centre.

Why this step matters

According to the report, Azza Al Habsi, VP Economic Research at Oman International Development and Investment Company (Ominvest) said, "the laws are the hinge between establishment and operation. Until they are issued, the Centre’s authority, regulator and dispute resolution authority cannot adopt the rulebooks that prospective firms need to assess licensing requirements, capital rules and the route to resolving disputes. The registry is the first point of contact with applicants. Together, they determine whether company registration can begin on schedule this year."

International engagement

In September, IFC Oman was approved as a member of the World Alliance of International Financial Centres at the alliance’s annual meeting in Busan. Its outreach has included the Hong Kong Belt and Road Summit and Astana Finance Days, with meetings with financial services firms in Bangkok this week on the sidelines of the IMF and World Bank annual meetings and the Institute of International Finance’s annual membership meeting, followed by meetings in London later this month. The itinerary mirrors the East–West bridge the Centre aims to become.

How the Centre was set up

IFC Oman was established by Royal Decree 8/2026 in January 2026 as an independent jurisdiction based on English common law, with three bodies: an Authority, a Regulator and a Dispute Resolution Authority with its own courts. The founding law provides tax exemptions of up to 50 years for eligible activities.

Its seven-member Board, appointed by Royal Order in June 2026, is chaired by H.H. Sayyid Theyazin bin Haitham Al Said, Deputy Prime Minister for Economic Affairs, with Minister of Finance Sultan Al Habsi as Deputy Chair. Its other members are Abdulsalam Al Murshidi, President of the Oman Investment Authority; Ahmed Al Musalami, Governor of the Central Bank of Oman; Mahmood Al Aweini; Mulham Al Jarf; and an independent international expert.

Analysis: the economic case and the test ahead

The GCC already hosts large, established hubs, including the Dubai International Financial Centre and Abu Dhabi Global Market, while Qatar and Saudi Arabia are also courting international firms.

Azza further explains that Oman’s case rests less on competing head-on and more on acting as a bridge for capital moving between the GCC, South Asia and East Africa. Her analysis found that four factors support it. The first is geography: the IMF notes that Oman’s trade and production saw minimal disruption from this year’s regional conflict because its main sea access lies entirely outside the Strait of Hormuz. The second is a balanced diplomatic stance that has preserved relations across competing blocs. The third is a stronger macroeconomic base. Public debt fell from 68% of GDP in 2020 to 34.7% at end-2025, according to IMF staff. In its October World Economic Outlook, the IMF projects 2026 growth of 4.1% for Oman, the only GCC economy expected to expand this year. All three major rating agencies now rate Oman investment grade, with S&P affirming BBB- in September.

The fourth is quality of life, which matters when firms ask senior staff to relocate with their families. Oman ranked third globally and first in Asia in Numbeo’s mid-2026 Quality of Life Index, with the highest safety score among the top ten countries. The index also rates its cost of living as low and housing as affordable relative to incomes, a practical advantage for firms weighing where to base regional teams.

Experience elsewhere shows that IFCs generate demand well beyond finance, in legal and professional services, technology and real estate, which is directly relevant to Oman Vision 2040.The need for new sources of capital is clear in the data. Non-oil activities account for about 72% of real output, according to National Centre for Statistics and Information, yet roughly four-fifths of the USD 83.7 billion FDI stock sits in oil and gas. Real GDP rose 5.1% in the second quarter of 2026, but petroleum activities grew 14.7% while non-oil activities grew just 0.7%. A financial services platform that draws in international asset managers and advisers could help broaden the investor base and complement the 11th Five-Year Plan’s push to deepen domestic capital markets.

The competition is challenging. Dubai’s DIFC passed 10,000 active registered companies in the first half of 2026, and Abu Dhabi Global Market’s workforce is approaching 50,000. Tax incentives are easily matched, so differentiation will have to come from regulatory quality, speed and the corridor focus. The more consequential test will be whether IFC Oman can translate international institutional presence into tangible economic activity.

She notes that the coming months bring several important milestones: the issuance of the laws and initial rulebooks, the start of company registration later this year and the launch of full licensing operations in 2027. Each will help build the confidence of international institutions considering Oman as a base for regional business. Over the longer term, the Centre’s contribution will be reflected in the depth and quality of the activity it attracts.

This article is based on research and analysis by Azza Al Habsi, Economist at Ominvest. Ominvest is one of Oman's leading diversified investment groups, with significant holdings across the banking and financial services sector.

About Ominvest

Founded in 1983 and listed on the Muscat Stock Exchange, Ominvest is a leading investment holding company in Muscat, Oman that takes a global approach to investing. It holds a diversified portfolio of investments in markets beyond Oman, including the GCC, Asia, and other international growth markets. Omnivest’s investments are diversified across insurance, banking and finance, private equity, global capital market investments, real estate, and technology. By focusing on nurturing innovative solutions, ethical practices, and sustainable growth, Omnivest empowers businesses to become more than just industry leaders; it helps them become community pillars that contribute meaningfully to the society and economy at large. For more information, visit ominvest.com.

Disclaimer

This press release is provided for informational purposes only and does not constitute financial, legal, or investment advice. Statements regarding regulatory launches, economic projections, and operational timelines are forward-looking and subject to change. The economic analysis contained herein represents the views of the author/contributor and does not necessarily reflect the official regulatory policy or endorsement of the International Financial Centre of Oman (IFC Oman).

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SOURCE: Ominvest

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