Ministry of Finance Oman

What Ministry of Finance Oman does

The Ministry of Finance of the Sultanate of Oman is the sovereign government ministry responsible for national fiscal policy, public debt management, treasury operations, and state budget preparation. Established in 1941 as the 'Administration of Financial Affairs' and restructured under multiple Royal Decrees (most recently Royal Decree 91/2022), it operates under the leadership of Minister Sultan bin Salem Al Habsi and falls under the Council of Ministers of Oman. The Ministry's mandate is anchored by the Public Debt Law (Royal Decree 68/2023), which grants it exclusive authority for sovereign borrowing.

The Ministry's core technology platform is Maliyah (Government Financial Management Information System), a web-based electronic system covering budget planning, execution, control, and financial reporting across all government units. Supporting platforms include the Beneficiary Services System (government contractor payments), Tax Complaints System, Financial Reports (BI) Portal, the Asaar National Government Assets Register, the Consolidated Treasury Account, an Interactive Budget interface, and a Supply Chain Finance program for private sector contractors. The Ministry also manages the Public Debt Management Unit (est. 2017) and the Macro-Financial Policies Unit (est. 2015), and operates the Partnership for Development (offset) program coordinating with international defense and industrial partners. Distribution is via the Muscat headquarters, the Salalah General Directorate of Finance, electronic portals, and a mobile application.

The Ministry does not generate commercial revenue; it is funded through the state budget it administers. Its revenue streams consist of oil and gas revenues (managed via the Revenues General Directorate), tax revenue policy oversight (with the Tax Authority operating independently since 2019), government service fees reviewed under the Pricing of Government Services (Tas'ira) initiative, and proceeds from public debt issuance (treasury bills, development bonds, domestic and international sovereign sukuk). Customer segments include all government administrative units (mandatory), private sector contractors and suppliers (beneficiary/payment services), and citizens and investors (transparency and access to fiscal data).

Name

Ministry of Finance Oman

Legal name

Ministry of Finance, Sultanate of Oman

Website

https://mof.gov.om

Company type

Public

Founded year

1941

Operating status

Operating

Headcount range

251–500 employees

Short description

The Ministry of Finance of the Sultanate of Oman is the sovereign government ministry responsible for national fiscal policy, public debt management, treasury operations, and state budget preparation, serving all government units, private sector contractors, and citizens through electronic platforms including the Maliyah GFMIS.

Ownership category

akta.pro rank

Product category

Government Financial Management / Public Finance Administration

NAICS

Public Finance Activities (92113), Public Finance Activities (921130)

SIC

Finance Services (6199), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Budgeting & Fiscal Planning (BPAIAEAA)

akta.pro secondary industries

Treasury & Cash Management (BPAIAEAB), Public Debt Management (BPAIAEAC), Government Accounting & Financial Reporting (BPAIAEAD)

Keywords

• Public financial management
• Government budgeting
• Sovereign debt management
• Treasury operations
• Government revenue collection

Headquarters

HQ city

Muscat

HQ country

Oman

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Oil and Gas Revenues: The Ministry of Finance oversees collection and management of oil and gas revenues, which constitute the dominant share of Oman's state revenues. The Revenues General Directorate manages oil revenues, gas revenues, and miscellaneous revenues, and conducts financial monitoring and evaluation of the oil and gas sectors.
2. Tax Revenue Management: The Ministry manages tax policies including value-added tax (VAT), income tax on high earners, and excise taxes. While the Tax Authority operates independently (established 2019), the Ministry sets fiscal policy.
3. Government Service Fees: Revenue from government service fees managed under the Pricing of Government Services (Tas'ira) initiative, which periodically reviews and sets fees for services provided by government entities to citizens and businesses.
4. Public Debt Issuance: The Ministry issues government debt instruments including treasury bills, development bonds, and sovereign sukuk (Islamic bonds) to finance budget deficits and capital projects. Domestic debt instruments include treasury bills and government development bonds; external instruments include international bonds and sukuk.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

The Ministry of Finance of the Sultanate of Oman is the central government authority responsible for preparing the general state budget, managing the public debt portfolio, operating the treasury and government bank accounts, formulating fiscal policy, and administering government revenues (including oil and gas). It delivers these services through the unified GFMIS branded Maliyah, electronic beneficiary and tax grievance portals, and regional offices in Muscat and Salalah, while also running supply chain financing, public-private partnership, and asset management programs aligned with Oman Vision 2040.

Product overview

Ministry of Finance Oman operates a comprehensive portfolio of government financial management systems and services, centered around the unified Government Financial Management Information System (GFMIS) called 'Maliyah' (مالية). The core offering includes budget management, public debt management, treasury operations, asset registries, and tax grievance handling. Supporting platforms cover beneficiary services, supply chain financing, government services pricing, standardized contracts, risk management, and macro-financial policy analysis. The ministry also manages public-private partnership programs and publishes financial performance reports, interactive budgets, and fiscal bulletins. The portfolio follows a platform-plus-modules architecture where the Maliyah system serves as the central GFMIS with specialized modules for treasury accounts, program budgeting, and asset registries, complemented by independent systems for tax grievances, beneficiary payments, and financial publications.

Differentiator

Problem solved

Functional benefit

Brands

• Maliyah (مالية): The unified government financial management system (GFMIS) of the Sultanate of Oman, a modern electronic system for public financial management including budget planning, execution, control, and reporting.
• Asman (أصول)
• Public Debt Management (إدارة الدين العام)
• Macro-Financial Policies Unit (وحدة السياسات المالية الكلية)
• Supply Chain Finance (تمويل سلاسل الإمداد)

Products and services

• Maliyah — Unified Government Financial Management Information System (GFMIS) (النظام المالي الحكومي الموحد) A comprehensive Government Financial Management Information System (GFMIS) used across all Omani government units for budget planning, execution, control, and financial reporting. It supports accrual basis accounting, runs via web browsers, offers bilingual Arabic/English interface, integrates with government systems, and enables electronic payments and digital signatures.
• Beneficiary Services System (نظام خدمات المستفيدين) Electronic platform that enables contractors with government entities, including individuals and private institutions, to obtain a beneficiary reference number for receiving payments due for services rendered. It supports new beneficiary registration, payment voucher tracking, data modification, renewal, and bank account management.
• Tax Complaints System (نظام التظلمات الضريبية) Electronic system for submitting and tracking tax complaint requests until a decision is issued. Users can file a tax grievance and view their own request history.
• Financial Reports BI Portal (التقارير المالية) System providing financial reports to government entities regarding financial systems and human resources, as well as reports for contractors on the status of financial dues, accessed via beneficiary registration numbers.
• National Register of Government Assets — Asaar (السجل الوطني للأصول الحكومية) Integrated central system for inventorying government assets, centralizing asset management, and maximizing financial returns to the state budget through optimal utilization and investment of government properties.
• Consolidated Treasury Account (حساب الخزينة الموحد) Unified structure for all government bank accounts ensuring optimal use of government cash resources through centralized bank account and cash balance management, consolidating balances to present net revenue and expenditure flows.
• Program-Based Budgeting and Performance System (ميزانية البرامج والأداء) Program-based budgeting system transitioning from line-item budgeting to program and performance budgeting, linking national goals of Oman Vision 2040 with government programs and activities.
• Supply Chain Finance Program (تمويل سلاسل الإمداد) Government program managed by the Ministry of Finance to finance the payment of dues to private sector companies contracted with government entities, applicable to contracts valued at not less than 100,000 Omani Rials, using local financing institutions as channel partners.
• Pricing of Government Services — Tas'ira (تسعير الخدمات الحكومية) Methodology and unified pricing guide for determining the prices of government services, supporting Oman's Vision 2040 objectives for improving business competitiveness and attracting investment.
• Standardized Common Contracts (العقود الموحدة) Initiative to modernize standardized model contracts used across government units, incorporating latest practices approved by the International Federation of Consulting Engineers (FIDIC).
• Risk Management Policy Framework (إدارة المخاطر) Risk and financial opportunities management policy providing a systematic approach for identifying and assessing risks, building prevention procedures, and leveraging available opportunities across government financial operations.
• Public Debt Management Unit Services (وحدة إدارة الدين العام) Unit established in 2017 to manage the public debt portfolio of the Sultanate of Oman, handling government borrowing for budget deficit financing, balance of payments support, infrastructure projects, and public debt restructuring. It oversees issuance of domestic treasury bills, development bonds, and sovereign sukuk, as well as international bonds and sukuk.
• Macro-Financial Policies Unit (وحدة السياسات المالية الكلية) Macro-financial policy research unit established in 2015 that monitors financial and economic developments, develops medium-term fiscal frameworks, and provides fiscal policy analysis and recommendations.
• Interactive Budget (الميزانية التفاعلية) Interactive visualization platform for exploring general budget and final accounts data through an interactive interface with charts on revenues, expenditures, surplus/deficit, and financing sources.
• Financial Performance Bulletin (نشرة الأداء المالي) Quarterly financial performance bulletin published by the Ministry of Finance summarizing financial performance and key updates on global and local economic developments.
• State Final Account (الحساب الختامي للدولة) Final accounts reflecting the actual financial performance of the state for the ended fiscal year, measuring government compliance with the approved budget.
• Monthly Financial Accounts (الحسابات المالية الشهرية) Periodic tables published by the Ministry of Finance presenting the financial performance of the Sultanate of Oman on a monthly basis.
• Medium-Term Fiscal Balance Plan Program 2020-2024 (برنامج خطة التوازن المالي متوسطة المدى) Medium-term government plan (2020-2024) aimed at achieving public financial sustainability and fiscal balance between revenues and expenditures through various initiatives and fiscal policies.
• National Program for Financial Sustainability and Financial Sector Development 2023-2025 (البرنامج الوطني للاستدامة المالية وتطوير القطاع المالي) National program launched in January 2023 for three years to complete fiscal balance initiatives and develop the financial sector, including policy development, legal review, capital market efficiency, and financial inclusion.
• Partnership for Development (Offset) Program (برنامج الشراكة من أجل التنمية) Offset program where companies with government contracts exceeding five million Omani Rials commit to development investments in Oman, applicable to military and civil procurement, supporting national capacity building, technology transfer, and SME development.
• Public-Private Partnership Program (الشراكة بين القطاعين العام والخاص) Law and program regulating public-private partnership projects where the private sector undertakes the construction, financing, operation, and maintenance of public works, services, and infrastructure for government entities, applicable to projects in education, health, transport, and logistics sectors.

Quantifiable outcome

• Budget deficit/surplus of OMR 620 million and total expenditures of OMR 11,800 million managed through the 2026 state budget
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

24 partnerships are on record, tiered minor and core.

• Fitch RatingsminorOthers · 1 January 2025Fitch provides sovereign credit ratings for Oman. Ratings have improved from sub-investment grade to BBB- (investment grade) as of 2024-2025, reflecting improved fiscal sustainability and debt metrics.
• Moody's RatingsminorOthers · 1 January 2025Moody's provides sovereign credit ratings for Oman (Baa3 investment grade) and has rated Oman's Sustainable Finance Framework as 'very good quality' (SQS2), making Oman the first Gulf country to implement such a framework.
• Standard & Poor's (S&P)minorOthers · 1 January 2025S&P provides sovereign credit ratings for Oman, with ratings showing progressive improvement from BB+ to investment grade levels across various reports from 2022 to 2025.
• BAE SYSTEMS (United Kingdom)coreStrategic or Co-development Partner · 1 January 2024The Partnership for Development (Offset) Program includes a national capacity building initiative implemented in partnership with BAE SYSTEMS, providing strategic and practical training in national security infrastructure protection, crisis management, and cybersecurity.
• Airbus Helicopters, CAE, Oman National Investment Company (Tanmia), and Defense Pension FundcoreStrategic or Co-development Partner · 1 January 2024The Oman Aviation Academy project is implemented in partnership with Airbus Helicopters (aircraft provision), CAE (training systems), Oman National Investment Company (Tanmia), Defense Pension Fund, and Husn Investment Company to establish the first aviation training academy in Oman and the Middle East and Africa region.
• Lockheed Martin (United States)coreStrategic or Co-development Partner · 1 January 2024Through the Partnership for Development Program, Lockheed Martin provides systems for Royal Air Force combat and transport aircraft, contributing to technology transfer and national capability development in aviation support.
• Rolls-Royce (United Kingdom)coreStrategic or Co-development Partner · 1 January 2024Partnership with Rolls-Royce for establishing an advanced Hawk aircraft engine maintenance center at the Royal Air Force, enabling local disassembly, repair, and parts replacement instead of sending engines to the manufacturer. Also partnered for STEM education programs.
• Thales and ESLAIT (France)coreStrategic or Co-development Partner · 1 January 2024The Advanced Cyber Security Academy was established in partnership with the National Cyber Defense Center, Oman Technical and Applied Sciences University, Thales, and ESLAIT, providing high-level professional training in cybersecurity following internationally recognized standards.
• FNSS (Turkey)coreStrategic or Co-development Partner · 1 January 2024FNSS partnered in establishing a wheeled armored vehicles maintenance workshop for the Sultan's Armed Forces, providing technical support, logistics, and upgrading capabilities locally, contributing to reducing maintenance costs and supporting SMEs.
• Ericsson (Sweden)minorStrategic or Co-development Partner · 1 January 2024The Center of Excellence in Advanced Communications Technologies project is implemented in partnership with Ericsonson to develop 5G and IoT applications, providing cutting-edge technology and training for entrepreneurs, students, and companies in the Governorate Innovation Complex.
• Oman Dates Development CompanyminorStrategic or Co-development Partner · 1 January 2024The Central Palm Laboratory project is implemented in partnership with the Oman Dates Development Company, the University of Arizona (USA), and FNSS (Turkey) to conduct research on date palm cultivation, manufacturing processes, pest control, and soil and irrigation analysis.
• RODMAN (Spain)coreStrategic or Co-development Partner · 1 January 2024The Tashrii 1 (Reinforcement 1) project involves technology and vessel transfer, and training for the Coast Guard of the Royal Oman Police through a partnership with Rodman (Spain), providing modern maritime capabilities.
• STEYR (Austria)coreStrategic or Co-development Partner · 1 January 2024Two advanced small arms maintenance centers were established in partnership with STEYR (Austria) and the Sultan's Armed Forces, aiming to improve weapons maintenance quality, reduce spare parts spending, and extend weapon lifespan.
• Indra (Spain)coreStrategic or Co-development Partner · 1 January 2024A satellite image reception ground station for Earth observation was established in partnership with the National Survey Authority and Indra (Spain), providing multi-sensor satellite imagery reception, training, and necessary equipment.
• Prysmian Group (Italy)minorStrategic or Co-development Partner · 1 January 2024The Oman Cables project for training and qualifying Omani cadres in manufacturing is implemented in partnership with the Prysmian Group, a world leader in cable and electrical energy manufacturing, providing a five-year training program.
• LENCO and University of ArizonaminorStrategic or Co-development Partner · 1 January 2024The National Leadership Development and Future Scouting Program is implemented in partnership with the Omani Diplomatic Academy, LENCO, and the Eller Center for Executive Education at the University of Arizona, providing leadership development programs for government executives.
• Local Financing Institutions (Banks)coreChannel Partner/ Reseller/ Distributor · 1 January 2024The Supply Chain Finance project is managed by the Ministry of Finance and enables private sector companies contracted with government units to receive their due payments monthly through local financing institutions. The Ministry covers the total financing amount plus a portion of the interest.
• Ministry of Economy (Oman)coreStrategic or Co-development Partner · 1 January 2023The Public Debt Management Committee includes a representative from the Ministry of Economy alongside the Ministry of Finance, Central Bank of Oman, Oman Investment Authority, and two independent financial/economic experts. The Ministry of Economy participates in setting the general framework for annual and medium-term public debt management strategies.
• Central Bank of OmancoreStrategic or Co-development Partner · 1 January 2023The Central Bank of Oman is a member of the Public Debt Management Committee. The Bank also collaborates with the Ministry of Finance in issuing treasury bills (weekly competitive auctions) and is a key counterparty in the consolidated treasury account structure. The Ministry supports the Bank's foreign reserve needs.
• Oman Investment AuthoritycoreStrategic or Co-development Partner · 1 January 2023The Oman Investment Authority is represented on the Public Debt Management Committee. Established by Royal Decree 61/2020, the Authority operates under the Council of Ministers and coordinates with the Ministry on debt management and public investment strategies.
• Public-Private Partnership Projects - Education SectorcoreStrategic or Co-development Partner · 1 January 2020Under the PPP law, the Ministry of Finance coordinates with the Ministry of Education to develop 42 schools through public-private partnerships across various governorates, aiming to improve education facilities and leverage private sector expertise for construction, financing, and operation.
• Public-Private Partnership Projects - Health SectorcoreStrategic or Co-development Partner · 1 January 2020The Ministry of Finance coordinates with the Ministry of Health on PPP projects, including the Salalah Rehabilitation Center project which aims to operate and expand addiction treatment and rehabilitation services through private sector partnership.
• Public-Private Partnership Projects - Transport and Logistics SectorcoreStrategic or Co-development Partner · 1 January 2020The Ministry of Finance coordinates with the Ministry of Transport and Communications on PPP projects, including the Salalah-Thumrait Truck Road project to create a dedicated truck route with toll charges, improving traffic flow and reducing logistics costs.
• SME Development Fund (Inma)coreStrategic or Co-development Partner · 1 January 2014In 2014, the Ministry of Finance provided a financial grant to the SME Development Fund (Inma) to support SME loan interest payments, promote entrepreneurship culture, establish specialized training programs, and provide accounting support and affordable software.

Scale indicators5 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Kuwait Ministry of Finance: Kuwait's Ministry of Finance manages state revenues (including the Future Generations Fund), budget execution, and public debt for another GCC economy. Shares the same oil-revenue dependence, GCC institutional context, and fiscal policy mandate as Oman's MoF.
• Saudi Arabia Ministry of Finance: Saudi Arabia's Ministry of Finance is the closest large-scale peer: both manage oil-dependent GCC state budgets, sovereign debt issuance programs (including sukuk), and Vision-driven diversification strategies (Vision 2030 vs Vision 2040). Directly comparable mandate and product portfolio.
• UAE Ministry of Finance: The federal Ministry of Finance of the United Arab Emirates performs the same core functions as Oman's Ministry of Finance—federal budget preparation, public debt management, treasury operations, and fiscal policy setting across a GCC economy. Directly comparable in mandate, scale, and operating environment.
• Qatar Ministry of Finance: Qatar's Ministry of Finance performs analogous functions including state budget management, public debt policy, and treasury operations within a GCC hydrocarbon-dependent economy. Directly comparable in scope and institutional design.
• Bahrain Ministry of Finance and National Economy: Bahrain's Ministry of Finance and National Economy handles state budget, debt management, and fiscal policy for a smaller GCC economy. Directly comparable in mandate, regulatory role, and exposure to regional financial dynamics.

Others

• International Monetary Fund (IMF): The IMF conducts Article IV consultations and publishes fiscal assessments that directly affect Oman's sovereign credit profile and Ministry of Finance policy choices. Engages with the Ministry as the principal external fiscal oversight partner.
• World Bank: The World Bank partners with Oman's Ministry of Finance on development financing, technical assistance, and PPP advisory work. Functions as a multilateral counterpart supporting the Ministry's fiscal reform and capacity-building agenda.

Broad incumbents

• Oman Investment Authority: The OIA is Oman's sovereign wealth fund, separated from the MoF in 2020 and placed under the Council of Ministers. Manages state-owned enterprise investments and sits on the Public Debt Management Committee, making it a closely related state finance actor.
• Saudi Central Bank (SAMA): SAMA serves as both monetary authority and fiscal agent for the Saudi government, similar to CBO's relationship with Oman's MoF. Provides regional comparable on central bank–finance ministry coordination in a GCC context.
• Central Bank of Oman: Oman's Central Bank is a core counterparty to the Ministry of Finance—jointly issuing treasury bills, operating the consolidated treasury account, and participating on the Public Debt Management Committee. Complementary monetary authority rather than direct fiscal competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/OMAN_MOF
• YouTubeyoutube.com/channel/UCuKacukD4-bitJlLIO_HasA
• LinkedInlinkedin.com/company/oman-mof
• Instagraminstagram.com/oman_mof
• Facebookfacebook.com/OM.MinistryofFinance

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Ministry of Finance Oman