The Oman Financial Services Authority clarified that the conditions in its Board Nomination Form apply when a public joint-stock firm forms its first new board after its current board’s term expires, or when an existing firm fills a board vacancy or elects a replacement member. The conditions take effect from the issuance of Decision No. 8/2026. The form does not affect current boards or require firms to take action before those triggering events. It is intended to ensure that new board members meet the prescribed qualification and independence requirements, supporting effective board performance, sound governance and the protection of investors and other stakeholders.
Oman Financial Services Authority2026-08-10
Oman Financial Services Authority clarifies Board Nomination Form applies to new boards and vacancy appointments
The Oman Financial Services Authority clarified that its Board Nomination Form applies when public joint-stock firms form a new board or fill board vacancies. Existing boards are unaffected, while new appointees must meet the prescribed qualification and independence requirements.