The Supreme Sharia Supervisory Board under the auspices of the Oman Financial Services Authority (FSA) held its second meeting and reviewed the draft Insurance Law alongside other matters linked to strengthening Sharia governance in the capital‑market sector. Chaired by Dr. Ismail bin Nasser Al Aufi, the session considered a report submitted to the FSA’s Board of Directors containing observations and recommendations intended to enhance the sector’s legislative and regulatory framework. The FSA also underscored the Board’s role in ensuring that legislation and financial practices align with Islamic Sharia principles across the capital‑market and insurance sectors.
Oman Financial Services Authority 2025-12-15
Oman Financial Services Authority’s Supreme Sharia Supervisory Board reviews draft Insurance Law and recommends regulatory enhancements
The Supreme Sharia Supervisory Board, under the Oman Financial Services Authority, reviewed the draft Insurance Law and other Sharia governance matters in its second meeting. Chaired by Dr. Ismail bin Nasser Al Aufi, the session included recommendations to enhance the legislative and regulatory framework. The FSA emphasized the Board's role in aligning legislation and financial practices with Islamic Sharia principles in the capital-market and insurance sectors.