The International Association of Insurance Supervisors (IAIS) has completed a Member Assessment Program on Oman’s application of the Insurance Core Principles (ICPs), concluding that Oman has an advanced insurance regulatory and supervisory framework with most principles rated compliant or largely compliant. Oman is the fifth jurisdiction to undergo this assessment, following Guernsey, Morocco, Mexico and Albania. Preparation for the review included legislative analysis and an IAIS field visit in September 2024, and the assessment report also sets out recommendations for further improvement. Oman’s Financial Services Authority welcomed the findings and reiterated its focus on alignment with global supervisory standards.
Oman Financial Services Authority 2025-07-10
International Association of Insurance Supervisors peer review finds Oman largely compliant with Insurance Core Principles
The International Association of Insurance Supervisors (IAIS) completed a Member Assessment Program on Oman, finding its insurance regulatory framework largely compliant with Insurance Core Principles. Oman is the fifth jurisdiction assessed, following Guernsey, Morocco, Mexico, and Albania. The Oman Financial Services Authority welcomed the findings and emphasized its commitment to global supervisory standards.