Oman Sultani Decree No. 20/2024 On the Establishment of the Financial Services Authority, and the Issuance of Its Regulation
We, Haitham bin Tarik, Sultan of Oman,
After perusal of the Basic Statute of the State;
Law on the Regulation of the Profession of Accounting and Auditing promulgated by Oman Sultani Decree No. 77/1986;
Capital Market Law promulgated by Oman Sultani Decree No. 80/1998;
The Regulation of the Administrative Apparatus of the State promulgated by Oman Sultani Decree No. 75/2020; and
Based on the public interest requirements,
Have decreed the following:
Article 1
An authority named “Financial Services Authority” shall be established and shall have a juristic personality as well as an administrative and financial independence. Said Authority shall report to the Council of Ministers, and shall be subject to the provisions of the annexed Regulation.
Article 2
The headquarters of the Financial Services Authority shall be in Muscat Governorate. By a decision of the Board of Directors of the Authority, branches may be established in other governorates.