MUSCAT: The International Financial Centre of Oman (IFC Oman) has announced its core legal framework following the issuance of four Royal Decrees, paving the way for business registration, financial services licensing and commercial dispute resolution within the Centre.
Building on Royal Decree No 8/2026, which established IFC Oman and its principal institutions, the Operating Law, Regulatory Law and Courts Law provide the legal foundation for its next phase of development.
The laws empower the Centre’s relevant authorities to issue regulations and rules enabling business registration and financial services licensing, and to establish an independent, common law-based system for resolving commercial disputes.
“The issuance of these laws marks a decisive and key milestone for IFC Oman. They establish the legal foundation that will enable the Centre to register businesses, regulate financial services and facilitate dispute resolution,” said Mulham bin Basheer al Jarf, Chairman of the IFC Oman Regulatory Authority Board.
“This clear and certain framework will give global capital and enterprise further confidence in IFC Oman.”
He said the Centre would now focus on completing the preparations needed to begin operations.
“With this legal foundation now in place, our focus is on finalising the regulations and rules, and building the capabilities needed to open for business and begin licensing operations in early 2027.”
The Operating Law provides the framework for businesses seeking to establish themselves within IFC Oman. It creates the office of the Registrar-General, sets requirements for maintaining reliable and up-to-date public registers, and establishes powers to oversee the continuing compliance of businesses operating in or through the Centre.
The Regulatory Law sets out how financial and ancillary services will be supervised. It defines the powers and responsibilities of the regulatory authority and establishes a supervisory framework designed to promote market confidence, transparency, financial stability and investor protection.
The Courts Law governs the responsibilities of the IFC Oman Dispute Resolution Authority and the exercise of powers associated with its functions within the Centre. It provides for an independent system for resolving commercial disputes, intended to give businesses and investors greater certainty over the legal environment in which they operate.
Together, the laws underpin IFC Oman’s transition from institutional establishment towards operations. The Centre will finalise supporting regulations and rules, build its operational capabilities and engage with prospective market participants ahead of launch.
These preparations will enable it to begin registering companies ahead of the planned commencement of licensing operations in early 2027. -ONA
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