The Oman Financial Services Authority (FSA) held a meeting on “Legislative and Regulatory Empowerment of the Supreme Sharia Supervisory Authority,” focusing on how Oman’s legal and regulatory frameworks for Islamic financial services could better support Sharia-compliant finance and insurance. Participants discussed the Muscat Stock Exchange’s contributions, the Takaful Insurance Law, legislation covering investment funds and other Sharia-compliant instruments, and challenges linked to financial innovation. The meeting also referenced Decision No. (11/2025) establishing the Supreme Sharia Supervisory Authority and noted the chair and board members, alongside an emphasis on aligning the Sharia governance framework with Oman Vision 2040.
Oman Financial Services Authority 2025-09-28
Oman Financial Services Authority convenes meeting on strengthening the legislative and regulatory mandate of the Supreme Sharia Supervisory Authority
The Oman Financial Services Authority convened to discuss enhancing the legal and regulatory frameworks for Sharia-compliant finance and insurance. Key topics included the Muscat Stock Exchange's role, the Takaful Insurance Law, and challenges in financial innovation. The meeting also highlighted Decision No. (11/2025) establishing the Supreme Sharia Supervisory Authority and its alignment with Oman Vision 2040.