MALTA: The Sultanate of Oman, represented by the Financial Services Authority (FSA), participated in the Growth and Emerging Markets Committee (GEMC) Annual Meeting held in Malta, with an Omani delegation led by H.E. Abdullah bin Salim Al Salmi, Executive President of the FSA, who also took part in the Malta Financial Services Authority (MFSA) Public Conference.

This participation comes as part of the FSA’s efforts to strengthen international cooperation, align with global regulatory practice and further develop its strategic vision for 2026-2030. It provided a broad opportunity to follow the latest developments in international capital markets, including shifts in financial stability, technological advancements and regulatory updates, thereby enhancing its ability to align its regulatory policies with international standards.

The meetings of the ISSB Adoption Network offered an important opportunity to assess the readiness of the Sultanate of Oman to implement IFRS S1 and IFRS S2 through a phased roadmap, which is currently being discussed with the relevant entities in the Sultanate of Oman. The discussions addressed the necessary legal and institutional requirements, the role of boards of directors and the guidance tools provided by the IFRS Foundation and IOSCO, paving the way for establishing a comprehensive national framework for sustainability disclosure that reflects international best practices.

Through this meeting, the FSA also seeks to draw on international perspectives relating to capital-market regulation, the development of sustainable finance and the strengthening of operational resilience. The insights gained from these discussions reinforce the FSA’s ongoing efforts in the Sultanate of Oman, particularly in enhancing market competitiveness, developing more advanced supervisory frameworks and broadening investment opportunities across the financial sector.

The meetings also highlighted the importance of advancing financial inclusion through modern digital technologies such as digital identity and electronic know-your-customer (eKYC) processes. Several country experiences were presented, including those of Thailand, Angola, Egypt, Nigeria and Bahrain, shedding light on effective models for broadening the investor base, improving listing environments and achieving quick wins in market development. These experiences offer practical examples that the FSA can draw upon when designing its next phase of initiatives.

The conference addressed a range of topics of relevance to regulatory authorities, including geopolitical and economic challenges, the integration and growth of capital markets, developments in digital finance and the regulatory frameworks for virtual assets, as well as the role of artificial intelligence in financial services. The FSA’s engagement with its international counterparts on these themes offered valuable insight into emerging international regulatory trends and reaffirmed its commitment to aligning supervisory practices with international standards, supporting market development and promoting financial stability.

Cyber resilience also drew significant attention at the conference, reflecting its growing priority among regulatory authorities worldwide, including those supervising non-banking financial services. The sessions reviewed the evolving landscape of cyber risks, regulatory practices in managing operational and ICT risks and strategies to strengthen the resilience of financial-market infrastructures. Another dedicated session explored ways to deepen capital markets in emerging economies by discussing themes such as enhancing transparency, diversifying financial products and reinforcing the participation of SMEs and retail investors in the non-banking financial sector.

By taking part in the meeting, the FSA engages with international regulatory developments and strengthens collaboration with peer authorities, enabling it to continue advancing its regulatory policies and expanding the tools that support the stability and competitiveness of the financial sector.