International Financial Centre of Oman establishes legislative foundations for issuing regulations, regulatory rules

Muscat: The International Financial Centre of Oman (IFC Oman) has announced its core legal framework following the issuance of Royal Decrees No. 102/2026, 103/2026 and 104/2026, which enacted the Operating Law, the Regulatory Law and the Courts Law of the International Financial Centre of Oman.

These laws establish the foundations for company registration and licensing, the regulation of financial services and a robust judicial system for settling commercial disputes based on common law principles. The three laws also authorise the centre's competent authorities to issue detailed regulations and rules governing activities conducted within the centre.

Mulham Basheer Al Jarf, Chairman of the Board of Directors of IFC Oman Regulatory Authority, said the issuance of these laws marks a major milestone for the centre. They establish the legal foundation that will enable the centre to register companies, regulate financial services and organize dispute resolution. This clear framework, with the legal certainty it provides, will give international capital and companies greater confidence in IFC Oman. It also provides the basis for a international financial centre established specifically for this purpose, where opportunity, stability and quality of life come together to help companies and entrepreneurs thrive.

He added that with this phase of legislative development complete, the centre's efforts will now turn to completing the regulations and regulatory rules and preparing the institutional and operational requirements needed to begin operations and start issuing licences in early 2027.

Regarding the regulation of business conduct, the Operating Law of IFC Oman sets out the legal framework for entities wishing to establish operations in the centre. It provides for the establishment of an independent Registrar within the centre, defines requirements for maintaining and handling public records, and sets out the powers needed to supervise entities operating in or through the centre and to monitor their compliance with applicable requirements.

The Regulatory Law of IFC Oman details the powers and responsibilities of the centre's Regulatory Authority in supervising financial services and ancillary services. It establishes a regulatory framework for these services once entities begin operating in the centre, thereby strengthening market confidence, transparency, financial stability and investor protection.

Responsibilities relating to the Dispute Resolution Authority and the exercise of its powers are governed by the Courts Law of the Centre. This law aims to provide an independent judicial system within the centre that is efficient, clear and procedurally stable, enhancing legal certainty for companies and investors and their confidence in the legal environment under which they operate.

With the issuance of these laws, IFC Oman completes one of the essential pillars required to begin operations. The next phase includes completing the build-up of operational capacity, engaging with companies and parties interested in operating in the centre in preparation for the launch of its operations, and enabling company registration in the centre to begin licensing businesses in early 2027.