The Oman Investment Authority is the Sultanate’s sovereign wealth fund and the main investment arm that undertakes the investment of the financial surplus achieved from oil and gas revenues. OIA aims to achieve the best possible returns in the long-term to support the government efforts in diversifying income resources and securing returns for future generations and to achieve stabilisation in the supreme financial policies of the state. The Authority was established as an independent legal entity by Royal Decree 61/2020. Through this Royal Decree, all assets and employees of the State General Reserve Fund (SGRF) and the Oman Investment Fund (OIF) have been transferred to OIA with immediate effect. Simultaneously, SGRF and OIF no longer exist as legal entities. OIA has a separate legal identity with financial and administrative independence and will report directly to the Cabinet of Ministers. By the Royal Decree, the ownership of all government investments and companies (excluding Petroleum Development Oman) overseen by the Ministry of Finance have been transferred to OIA.
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