Muscat, Oman – In line with the latest regional and international legal practices, the Financial Services Authority (FSA) held a specialised workshop for its legal staff members. The workshop targeted legal professionals across all positions and administrative levels and was held in cooperation with the Said Al Shahry Legal Training Center.

The workshop reflects the FSA’s commitment in advancing its legal cadre to keep pace with the rapidly evolving financial markets and growing regulatory and legislative challenges, thereby strengthening the readiness of legal professionals and their role in supporting stability and growth in the sectors under its supervision.

During the workshop, participants reviewed the FSA’s ongoing efforts to review and align legislation with prevailing laws in accordance with best international practices, ensuring that regulations serve as a tool to develop and enhance financial markets, reinforce stability, and instill principles of sound supervision and sustainability, rather than act as an obstacle to market growth.

The workshop also included extensive discussions on the main challenges facing legal staff, ways to maximise available legal expertise, and mechanisms to utilise this expertise in legislative projects. In addition, effective methodologies for knowledge transfer and enhancing institutional integration were presented.

It is noteworthy that the FSA’s legal work encompasses drafting and reviewing legislation, providing legal opinions, reviewing contracts, and representing the FSA before judicial and quasi-judicial bodies, emphasising that this role requires a high level of expertise and specialised legal knowledge.