IFC’s Plan to Position Muscat as a Global Finance Hub: What It Means for Investors and Entrepreneurs in Oman
AZZA AL HABSI
Muscat, January 13
A Royal Decree has been issued to establish the International Financial Centre of Oman (IFC Oman), creating a new platform designed to support internationally focused financial and business activities. IFC Oman will operate under a fully independent legal, regulatory, and judicial framework that aligns with global standards.
The centre aims to offer a modern, integrated environment for financial institutions, multinational corporations, and investors, supported by advanced infrastructure and digital systems. It will emphasize transparency, efficiency, and investor protection.
IFC Oman’s strategy centers on “focus and differentiation,” seeking to develop specific niches where Oman can compete effectively rather than adopting a broad, generic model. It aims to leverage Oman’s competitive advantages, including cost-effectiveness, geopolitical neutrality, quality of life, and strategic location.
Currently, priority sectors under consideration include Islamic finance, sustainable and green finance, and innovation-driven financial services. The centre’s final focus will be guided by market demand and ongoing engagement with clients.
To enhance its competitiveness, IFC Oman plans to offer a range of incentives commonly associated with international financial centres, including attractive tax benefits, 100% foreign ownership, and a competitive cost structure driven by operational efficiencies.
The centre will adopt an agile, common-law-based regulatory framework aligned with international standards, designed around the needs of investors and businesses. This will position IFC Oman as a business-friendly jurisdiction offering regulatory certainty and responsiveness.
Regarding governance, IFC Oman will have a dedicated structure with independent regulatory authorities and an autonomous board. The operational framework will separate the IFC Oman Authority, the IFC Oman Regulator, and the IFC Oman Dispute Resolution Authority, in line with globally recognized standards.
Administratively and financially independent, IFC Oman will report directly to the Deputy Prime Minister for Economic Affairs.
A distinctive feature of IFC Oman is its scope: it will serve global clients under its own regulations, while firms operating directly within Oman’s domestic market will remain governed by the national legal framework.
Madinat Al Irfan has been chosen as the centre’s headquarters, described as an integrated ecosystem combining work, lifestyle, and business facilities, with access to hotels and key amenities. Additional sites may be considered in the future to expand the centre’s reach.
With the legal structure established, IFC Oman will now enter a “readiness phase” focused on finalizing regulatory frameworks, building operational structures, and implementing best-practice systems and processes. The centre is expected to commence operations before the end of 2026.
The initiative is aligned with Oman Vision 2040 and is anticipated to boost investor confidence, encourage financial innovation, develop human capital, and generate broader economic benefits through increased demand for professional services, business travel, and related industries.
(The writer is an economist at OMINVEST)
Special Analysis by Omanet | Navigate Oman’s Market
The establishment of the International Financial Centre of Oman (IFC Oman) signals a strategic leap for Oman’s business landscape, offering a globally competitive, investor-friendly environment with specialized focus areas like Islamic and green finance. Businesses and investors should capitalize on Oman’s unique advantages—geopolitical stability, cost efficiency, and regulatory clarity—while anticipating growth in sophisticated financial services and international partnerships. Smart investors must monitor IFC Oman’s rollout and readiness phase to identify early opportunities in niche financial sectors aligned with Oman Vision 2040.
