We, Haitham bin Tarik, the Sultan of Oman
after perusal of the Basic Statute of the State promulgated by Royal Decree 101/96,
and in pursuance of public interest,
have decreed as follows
An authority named the “Oman Investment Authority” is hereby established. It shall have legal personality, shall enjoy financial and administrative independence, and shall be subordinate to the Council of Ministers.
The Oman Investment Authority shall have a board of directors formed by virtue of an order of His Majesty the Sultan.
The system of the Oman Investment Authority shall be promulgated by royal decree.
All the competences, allocations, rights, obligations, records, holdings, assets, and investments related to the State General Reserve Fund, Oman Investment Fund, and the Directorate General of Investments in the Ministry of Finance are hereby transferred to the Oman Investment Authority. All employees of the State General Reserve Fund and Oman Investment Fund are hereby also transferred to the Oman Investment Authority with their same employment status and financial entitlements.
The transfer of the employees of the Directorate General of Investments in the Ministry of Finance to the Oman Investment Authority shall be as agreed between the Ministry of Finance and the Oman Investment Authority.
The ownership of all government companies and investments is hereby transferred from the Ministry of Finance to the Oman Investment Authority, with the exception of Petroleum Development Oman, government contributions in international organisations, and companies for which an order is issued by His Majesty the Sultan.
The phrases “State General Reserve Fund” and “Oman Investment Fund”, wherever they occur in laws and royal decrees, are hereby replaced with the phrase “Oman Investment Authority”.
This decree shall be published in the Official Gazette, and comes into force on the date of its issuance.
Issued on: 12 Shawwal 1441
Corresponding to: 4 June 2020
Haitham bin Tarik
Sultan of Oman
Published in Official Gazette 1344 issued on 7 June 2020.