Commentary
Colin Foreman
Editor

Oman’s decision to establish the International Financial Centre of Oman (IFC Oman) is an important stepping stone for the development of its economy.

The centre will act as a conduit for investment into the sultanate and help deepen its domestic financial markets as the sultanate continues to develop and diversify, guided by Oman Vision 2040.

Basing the centre on English common law is a tried and tested legal formula in the GCC, used by the Dubai International Financial Centre (DIFC), Abu Dhabi Global Market (ADGM) and Qatar Financial Centre.

The appeal is straightforward. A common-law system, operating in English, offers legal predictability through precedent, specialist courts and internationally recognisable dispute resolution. Combined with an independent regulator and clear rules around ownership, repatriation and insolvency, it can reduce perceived risk for foreign institutions.

Legal architecture alone does not create a financial centre. DIFC and ADGM benefitted from early-mover advantage, deep liquidity pools and the ability to attract large teams of banks, law firms and advisory businesses.

IFC Oman will need to differentiate, and its success will depend on targeted sector choices, credible supervision and fast, predictable processes rather than broad ambition.

There are areas of comparative advantage. Oman could position the centre as a cost-competitive jurisdiction for regional back-office, compliance and fund administration. It could also focus on specific sectors that are national priorities, such as sustainable finance linked to energy transition and green hydrogen, maritime and logistics finance serving the ports of Sohar and Duqm, and mid-market corporate banking and project finance for industrial and tourism schemes.

If the centre can pair common-law certainty with pragmatic regulation and talent development, it offers the potential to become an important enabler of Oman Vision 2040 rather than just a lightweight replica of existing centres in the region.

MEED’s January 2026 report on Oman includes:

> COMMENT: Oman steadies growth with strategic restraint
> GVT & ECONOMY: Oman pursues diversification amid regional concerns
> BANKING: Oman banks feel impact of stronger economy
> OIL & GAS: LNG goals galvanise Oman’s oil and gas sector
> POWER & WATER: Oman prepares for a wave of IPP awards
> CONSTRUCTION: Momentum builds in construction sector