Oman’s International Financial Centre (IFC Oman) is exploring a strategic partnership with the City of London Corporation, a key institution behind London’s financial district known as the “Square Mile.” The collaboration aims to enhance Oman’s international financial standing by attracting foreign investment, mobilizing global capital, and supporting economic diversification efforts outlined in Oman Vision 2040.
Established under Royal Decree No 8/2026, IFC Oman seeks to create an attractive environment for international financial institutions and investors. However, officials acknowledge that legal and institutional frameworks alone are insufficient for success. A robust network of international connections, investor confidence, specialized financial services, and a clear link between finance and real economic needs are also critical components.
The City of London Corporation represents a potential strategic partner due to its extensive global network that includes financial entities, professional services firms, policymakers, and industry experts. While Oman does not intend to replicate London’s financial model, it looks to leverage the Corporation’s experience to develop a distinctive financial centre tailored to its economic priorities and competitive advantages.
The partnership offers mutual benefits: Oman’s strategic geographic location connects the Gulf, South Asia, and East Africa, providing access to emerging markets, while London-based financial institutions could tap into investment opportunities across Oman’s key sectors such as manufacturing, logistics, energy, tourism, and technology. The collaboration aims to attract international banks, asset managers, insurers, private equity firms, fintech companies, legal advisors, and others whose business objectives align with IFC Oman’s regulatory and market environment.
Engagement initiatives envisaged include investor meetings, specialized roundtables, and business missions designed to introduce IFC Oman to targeted institutions. Central to this effort will be a clearly articulated investment proposition detailing governance, licensing, dispute-resolution mechanisms, operating conditions, and regional market access.
Beyond attracting institutions, the partnership focuses on financing productive investments that support export growth, increase local value addition, and foster private-sector development. Manufacturing sectors such as pharmaceuticals, chemicals, food production, metals, recycling, and advanced technologies are prioritized. The City of London Corporation’s expertise could facilitate connections between industrial projects and international investors, as well as the structuring of tailored financial instruments.
Renewable energy, green hydrogen, ports, logistics infrastructure, economic zones, tourism, and public–private partnership projects also feature as potential areas for financial collaboration. London’s financial expertise could assist in structuring project finance, bonds, sukuk (Islamic bonds), supply-chain finance, export finance, growth equity, and sustainable finance products.
Small and medium-sized enterprises (SMEs) and exporters are another focus area, with efforts to develop financing solutions that support business expansion, productivity improvements, and integration into global value chains. This may include working capital facilities, export finance, and investment instruments suited to expanding SMEs.
Additionally, the partnership seeks to foster capital market development and financial innovation. Collaboration with the Muscat Stock Exchange and Omani financial institutions could enhance company listings, institutional investor engagement, debt and sukuk markets, market liquidity, and investor relations. The exchange of expertise may extend to fintech, digital payments, regulatory technology, cybersecurity, and financial data services.
Overall, the proposed cooperation between IFC Oman and the City of London Corporation aims to integrate Oman more deeply into global financial markets while supporting the Sultanate’s strategic economic goals through enhanced capital access, specialized financial services, and institutional expertise.