Tag: Entity Overview

The Ministry of Finance (وزارة المالية) is the body responsible for all the financial affairs of the government, including preparing the annual budget of the state and approving major government contracts.

The Oman Investment Authority (جهاز الاستثمار العماني) is the sovereign wealth fund of the government of the Sultanate of Oman and is the body responsible for managing, developing, and investing certain assets of the state.

The Tax Authority (جهاز الضرائب), is the body responsible for developing and implementing the tax policy of the state.

The Oman Commercial Arbitration Centre (مركز عمان للتحكيم التجاري) is an Omani public-interest private entity established in 2018. It provides arbitration, mediation, and conciliation services.

The Social Protection Fund (صندوق الحماية الاجتماعية) was established in 2021 as a successor to all non-military and non-security pension funds in the Sultanate of Oman. It is responsible for implementing the Social Protection Law, which is the primary legal framework for social benefits and social insurance in the country.

The Ministry of Commerce, Industry, and Investment Promotion (وزارة التجارة والصناعة وترويج الاستثمار) is the body responsible for regulating commerce and industry and for promoting investment in the Sultanate of Oman. It is responsible for maintaining the Commercial Register, setting standards, registering intellectual property, and protecting the market from anti-competitive and monopolistic practices, among other things.

The Foreign Ministry (وزارة الخارجية) is the body responsible for managing all foreign relations of the Sultanate of Oman and is the official channel for communicating with other states. Its responsibilities include carrying out the procedures for issuing royal decrees acceding into and ratifying treaties and also attesting official documents issued by the Omani government.

The Ministry of Justice and Legal Affairs (وزارة العدل والشؤون القانونية) was established in the year 2020 as the successor to the Ministry of Justice and the Ministry of Legal Affairs. Its primary functions are reviewing legislation, issuing legal opinions to government entities, reviewing government contracts worth more than 5,000,000 Rial Omani, reviewing international agreements, supervising lawyers, regulating expert undertakings before the courts, and publishing the Official Gazette.