The Oman International Financial Centre (IFC Oman) announced its legal framework by issuing royal decrees numbered 102/2026, 103/2026, and 104/2026, which respectively approved the Law of Operations, the Regulatory Law, and the Law of Courts.
Establishing Legal Foundations
These laws provide the necessary foundations for company registration and licensing, regulating financial services, and establishing a strong judicial system for resolving commercial disputes based on public law principles. Additionally, these three laws enable the competent authorities of the Centre to issue more detailed regulations and rules for activities conducted within the Centre.
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Key Role in Attracting Investment
Malham Bashir Al-Jarf, Chairman of the Board of the Regulatory Authority of IFC Oman, announced that the issuance of these laws marks a significant milestone for the financial centre. These laws provide the legal foundations that allow the Centre to register companies, regulate financial services, and organize the resolution of disputes. This clear framework, with the legal certainty it provides, enhances trust in international investments and companies in IFC Oman.
He added that with the completion of this phase of legal development, the Centre's efforts will now focus on completing regulatory regulations and rules and preparing the institutional and operational requirements needed to commence activities and issue licenses in early 2027.
Legal Framework for Businesses
The Law of Operations of IFC Oman establishes the legal framework for entities intending to operate in this Centre. This law anticipates the establishment of an independent registrar within the Centre and specifies the necessary conditions for maintaining and managing public records. It also defines the necessary powers to supervise active entities in the Centre and monitor their compliance with relevant requirements.
The Regulatory Law of IFC Oman details the powers and responsibilities of the Centre's regulatory authority in overseeing financial services and ancillary services. This law provides the necessary regulatory framework for these services when entities operate in the Centre, contributing to market confidence, transparency, financial stability, and investor protection.
The responsibilities related to the dispute resolution organization and the execution of its powers are regulated under the Law of Courts of the Centre. This law aims to provide an independent judicial system in the Centre that is efficient, transparent, and sustainable, enhancing legal certainty for companies and investors.
With the issuance of these laws, IFC Oman completes one of the essential pillars needed to commence operations. The next phase will involve completing operational capacity, engaging with companies and interested parties wishing to operate in this Centre, and beginning the registration of companies for licensing in early 2027.
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