Financial Services Authority to oversee Oman’s financial growth

MUSCAT : The FSA (previously Capital Market Authority) marks a significant step in regulating and leading the growth of Oman’s financial sector, encompassing capital markets, insurance, and the accounting and auditing profession. It aims to enhance the integrity and independence of the financial sector in the Sultanate by expanding its businesses and sectors.

Among the key objectives outlined in the Authority’s work system are structural and operational benefits aimed at fostering financial stability and facilitating growth.

The Authority seeks to integrate the financial sector into the national decision-making system and bolster its role in providing a conducive investment environment. Operationally, it aims to strengthen its regulatory and supervisory functions while fostering innovation and development in financing mechanisms.

It will also facilitate the innovation and development of financing components of the Authority’s work system by incorporating a reference law for the sectors it supervises and pave the way for the issuance of sectoral legislation.

The Authority’s operations are also aimed at empowering national staff and ensuring financial stability within the supervised sectors. This includes initiatives to engage staff in new specialized fields and provide stability through the establishment of a specialized educational institution.

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The post Financial Services Authority to oversee Oman’s financial growth appeared first on The Arabian Stories News.

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