According to the royal media statement, the establishment of the IFC is «aligned with the Sultanate of Oman’s strategic objectives to diversify the national economy, strengthen Oman’s position as a global hub for financial services, attract capital, and foster innovation.»

Parallels With Dubai And Abu Dhabi

The creation of the centre also underscores Oman’s commitment—home to around 5.6 million people—to building a trusted and efficient ecosystem for the provision of modern financial services that meets the requirements of investors and international institutions.

Similar to the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM), the centre will, under Oman’s Law on the International Financial Centre of Oman enacted by Royal Decree No. (8/2026), enjoy administrative, financial and legislative independence. It will develop a regulatory, legal and judicial framework aligned with international standards and based on English common law—rather than on Sharia-based jurisprudence.

Without applying English common law, but with clearly defined office and financial districts, financial centres in Saudi Arabia (the King Abdullah Financial District in Riyadh), Qatar (the Qatar Financial Centre in Doha) and Bahrain (the Bahrain Financial Harbour in Manama) are also competing to attract international banks, fintech start-ups and investors.

Trade, Real Estate And Tourism Continue to Grow

The headquarters of the centre will be located in Madinat Al Irfan, near Muscat International Airport and the city’s exhibition centre, with the possibility of expanding to additional locations as provided for under the law. IFC Oman aims to attract investment in financial activities and related sectors through a package of incentives and tax exemptions for a period of up to 50 years. «Oman—guided by Vision 2040—stands out as one of the most forward-looking economies in the Gulf Cooperation Council (GCC), characterised by stable governance, a strategic location, and an ambitious vision for diversification and sustainable development,» said Hazem Ben-Gacem, CEO of BlueFive Capital, when he relocated the asset manager's headquarters from London to Muscat in October 2025.

In June 2025, the International Monetary Fund (IMF) forecast that real GDP growth would rise to 2.4 per cent. An earlier estimate from October 2024 had projected growth of 2.7 per cent for 2024. For 2026, growth is expected to accelerate further to around 3.7 per cent. The non-oil sector—particularly foreign trade, construction, and tourism—continues to gain importance and is expected to account for 73 per cent of the overall economy in 2025 for the first time.

Flying to Muscat With Swiss And Oman Air

Abdulsalam Mohammed Al Murshidi, President of the 54 billion US dollar sovereign wealth fund Oman Investment Authority, said: «The objective is for the centre to become a strategic magnet and a source of capital inflows, thereby contributing to the realisation of Oman’s Vision by strengthening economic diplomacy and advancing economic diversification.»

As in all Gulf states, crude oil exports remain an important source of revenue for the Indian Ocean monarchy, although Oman is not a member of the OPEC oil cartel. Geneva-based Arab Bank Switzerland has a foot in the market through its partnership with affiliate Ubhar Capital SAOC. For Swiss bankers with ambitions in Oman, both Swiss and Oman Air offer several weekly flights from Zurich to Muscat—SWISS via Frankfurt and Munich, and Oman Air nonstop.