Suspension of Saud Al Zadjali Law Firm: What It Means for Legal and Business Compliance in Oman
Muscat: The Financial Services Authority (FSA) has issued Administrative Penalty Decision No. (38/2025), suspending Saud Al Zadjali Law Firm from entering into contracts with public joint-stock companies for one year.
The suspension follows the firm’s violation of Article (183) of the Regulation for Public Joint Stock Companies (Decision No. 2021/27) and Articles (43) and (177) of the Commercial Companies Law, enacted by Royal Decree No. 18/2019.
The violation pertains to the firm’s review and certification of the minutes from the extraordinary general meeting of Sweets of Oman Company (SAOG), held on January 5, 2023, which were found to be non-compliant with applicable laws and regulations.
Effective November 4, 2025, public joint-stock company boards must terminate any existing contracts with Saud Al Zadjali Law Firm and appoint alternative legal advisors accredited by the FSA.
The FSA stressed that this measure underscores its dedication to governance, transparency, and integrity in the management of public joint-stock companies. It also aims to ensure that law firms accredited by the authority maintain the highest professional and regulatory standards, thereby strengthening confidence in Oman’s business environment.
Special Analysis by Omanet | Navigate Oman’s Market
The Financial Services Authority’s suspension of Saud Al Zadjali Law Firm signals heightened regulatory scrutiny and a stringent enforcement environment in Oman’s corporate sector. For businesses, this underscores the imperative of compliance with governance and legal standards to avoid disruptions and reputational risks. Smart investors and entrepreneurs should prioritize partnerships with fully accredited legal advisors and remain vigilant to evolving regulatory frameworks to protect their interests and capitalize on a more transparent market landscape.
