Muscat – Establishment of the Oman Global Financial Centre, approved by the Council of Ministers during its meeting on Tuesday, marks a carefully planned strategic step grounded in extensive reviews of regional and international models.
The centre aims to create an attractive environment for investment, drawing commercial banks and global financial institutions specialising in conventional and Islamic banking, financial and insurance services, as well as related support activities. It also seeks to facilitate knowledge transfer and generate high-quality employment opportunities within the financial sector.
H E Sultan bin Salim al Habsi, Minister of Finance and Chairman of the Supervisory Committee for the centre’s establishment phase, said the centre would strengthen the role of the financial sector in achieving economic diversification targets, in line with ongoing efforts to develop the financial and investment landscape and future aspirations of the sultanate.
He added that the centre will operate as an enabling platform offering a range of incentives to support investment management, company formation and the establishment of commercial partnerships, while facilitating capital flow, financial services and promoting financial innovation.
H E Habsi further noted that the centre will leverage Oman’s key strengths, including political stability, investment attractiveness and extensive economic partnerships with countries around the world.
