The Financial Services Authority (FSA) signed a cooperation framework with Said Al Shahry Legal Training Centre to advance cooperation in the training and development of FSA employees working in the legal field. The framework aims to enhance their professional performance, expand their legal knowledge and equip them with the skills required to meet evolving workplace demands and strengthen their professional competencies. This, in turn, will contribute to enhancing the services provided by the FSA to institutions operating in the non-banking financial sector, while supporting employees in shaping their career paths and developing their professional capabilities.

Under the framework, the two sides will cooperate in designing, developing and delivering a range of legal training programmes for FSA employees. These will include general programmes aimed at strengthening knowledge of the legal environment in the Sultanate of Oman, alongside topics related to governance and the Commercial Companies Law, dispute resolution, legal language and drafting, and skills in analysing and interpreting legal texts. The programmes will also cover the FSA’s roles, responsibilities and powers, as well as legislation relating to anti-money laundering and combating the financing of terrorism.

The framework also includes specialised training programmes for legal professionals and advisers in the FSA’s Legal Affairs Department, aimed at strengthening their skills in areas including the management of legal departments, commercial contract drafting, and the preparation of legal memoranda and pleadings.

The framework also provides for the development of specialised and advanced training programmes in cooperation with the Said Al Shahry Legal Training Centre’s international partner, the College of Law in Australia. Proposed programmes will cover areas related to financial crime investigations, law enforcement, securities law and prohibited practices, legal requirements for licensing and supervising entities regulated by the FSA, as well as insurance and consumer protection laws.

The framework further establishes a basis for long-term cooperation in training and development for all FSA employees, based on annual learning and development plans to be prepared jointly by the two sides in the future. It reflects the FSA’s commitment to developing its human capital and strengthening professional and legal capabilities, recognising investment in competencies as a key foundation for enhancing institutional performance and supporting the Authority in carrying out its regulatory and supervisory responsibilities. This will enable the FSA to keep pace with rapid developments in the financial sector and contribute to achieving its objectives and future aspirations.

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