Latest news with #SheikhAbdulmalik
Zawya
09-07-2025
- Business
- Zawya
Oman: State Council discusses draft laws and income diversification study
Muscat – The State Council convened on Tuesday for its eighth session of the second ordinary term of the eighth period, during which it reviewed several key legislative proposals and strategic studies aimed at enhancing Oman's legal and economic frameworks. The session, chaired by H.E. Sheikh Abdulmalik Abdullah Al Khalili, Chairman of the State Council, discussed the Real Estate Registry Law, the Draft Law Amending Certain Provisions of the Arbitration Law in Civil and Commercial Disputes (Royal Decree No. 47/97), and the Civil Society Organisations Law. The Council examined the opinion of the Legal Committee regarding the Real Estate Registry Law, as referred by the Council of Ministers. The proposed legislation aims to strengthen legal safeguards for property owners and beneficiaries, simplify property registration procedures and real estate transactions, and introduce digital documentation, including electronic title deeds integrated with government systems. These measures are aligned with the sultanate's national digital transformation strategy. The session also considered the opinion of the Social and Cultural Committee on the Civil Society Organisations Law. The draft law provides a comprehensive framework for the regulation and operation of civil society entities, including associations, non-governmental organisations (NGOs), professional societies, volunteer groups, and expatriate clubs. It aims to enhance their role in community development while addressing regulatory challenges posed by the current legal framework. Additionally, the Council reviewed proposed amendments to the Arbitration Law in Civil and Commercial Disputes. The changes are intended to align national legislation with international standards in arbitration, thereby improving the credibility and efficiency of dispute resolution mechanisms. The amendments are expected to boost investor confidence and support Oman's aspirations to become a regional centre for commercial arbitration, in line with Oman Vision 2040. Beyond legislative matters, the Council reviewed a study conducted by the Special Committee on Mechanisms for Diversifying Income Sources in Oman. The study highlights challenges to fiscal sustainability, pinpoints inefficiencies in current revenue streams, and proposes strategic solutions to enhance economic resilience. It also recommends legislative and governance reforms aligned with the objectives of the 11th Five-Year Development Plan. The session concluded with the presentation of a report by the General Secretariat outlining the Council's recent activities. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Times of Oman
08-07-2025
- Business
- Times of Oman
State Council discusses three draft laws
Muscat: The State Council on Tuesday held its eighth session of the second ordinary term of its eighth period, during which it discussed the 'Real Estate Registry Law," the 'Draft Law Amending Certain Provisions of the Arbitration Law in Civil and Commercial Disputes (Royal Decree No. 47/97)," and the 'Civil Society Organisations Law." The session also reviewed the Special Committee's study on "Mechanisms for Diversifying Income Sources in Oman" and examined the General Secretariat's report on the Council's activities. Held under the chairmanship of Sheikh Abdulmalik Abdullah Al Khalili, Chairman of the State Council, the session discussed the Legal Committee's opinion on the Real Estate Registry Law, referred by the Council of Ministers. The draft law focuses on several key aspects, including: Strengthening legal protections for property owners and beneficiaries; Regulating registration procedures and real estate transactions and enabling digital documentation and issuing electronic title deeds linked to relevant government systems, aligning with Oman's national digital transformation strategy. The Council also reviewed the Social and Cultural Committee's opinion on the Civil Society Organisations Law, which includes substantive provisions regulating the work and objectives of civil society institutions. The draft law aims to enhance their role in serving society through associations, NGOs, professional societies, volunteer teams, and expatriate clubs, while addressing challenges under the current legal framework. Additionally, the Council examined the Draft Law Amending Certain Provisions of the Arbitration Law in Civil and Commercial Disputes, assessing its impact on arbitration parties and local/international arbitration centres. The amendments align with modern trends in comparative arbitration laws, reinforcing Oman's position as an attractive hub for commercial dispute resolution. The revisions are expected to boost confidence in arbitration mechanisms, create an investment-friendly legal environment and support Oman's adoption of best practices in justice and litigation, in line with Oman Vision 2040 objectives. The session concluded with discussions on the Special Committee's study on income diversification mechanisms, which identifies challenges to financial sustainability, inefficiencies in revenue streams, and potential solutions to enhance fiscal resilience. The study proposes measures to stabilize public finances in the 11th Five-Year Plan including legislative and governance reforms.
Times of Oman
24-06-2025
- Business
- Times of Oman
State Council discusses diversification of sources of income, fiscal sustainability challenges
Muscat: The State Council Office on Tuesday held its 6th meeting of the 2nd regular sitting during the eighth term. The meeting was chaired by Sheikh Abdulmalik bin Abdullah Al Khalili, Chairman of the State Council. The State Council Office hosted members of the special committee formed to study "Mechanism for diversifying sources of income in the Sultanate of Oman." The committee was entrusted with identifying the challenges posed to financial sustainability and diversification of sources of income, with the aim of finding solutions and achieving the desired progress in income diversification and financial sustainability. The committee was also tasked to submit proposals to support the stability of public finance in the 11th Five-Year Plan, including legislation and governance.
Zawya
04-06-2025
- Business
- Zawya
State Council reviews study on diversifying Oman's sources of income
Muscat – The State Council discussed a study titled ' Mechanism for Diversifying Sources of Income in the Sultanate of Oman' during its fifth meeting on Monday. The meeting was chaired by H E Sheikh Abdulmalik bin Abdullah al Khalili, Chairman of the State Council. The study reviewed the current state of the Omani economy and existing sources of national income. It also outlined international experiences in tackling challenges related to income diversification and financial sustainability. Concluding the discussion, the study stressed the importance of exploring future opportunities and provided recommendations for diversifying income sources across various economic sectors. The Council also reviewed a report by the Social and Cultural Committee regarding its meeting with officials from the Social Protection Fund to discuss mechanisms for implementing the social protection system. Additionally, the Council's bureau reviewed reports submitted by members following their participation in regional and international forums, along with updates on ongoing progress reports © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Times of Oman
02-06-2025
- Business
- Times of Oman
State Council discusses study on diversifying sources of income in Oman
Muscat: The State Council's office today discussed a study titled "Mechanism for Diversifying Sources of Income in the Sultanate of Oman." The discussion took place during the State Council's 5th meeting of its second regular convening during the Eighth Term. The meeting was chaired by Sheikh Abdulmalik bin Abdullah Al Khalili, Chairman of the State Council. The study addressed the current state of the Omani economy and sources of national income. It also gave a briefing about global experiences in addressing the challenges of diversifying sources of income and financial sustainability. The study concluded with emphasis on exploring future prospects and recommendations for diversifying sources of income across various economic sectors. The meeting also reviewed a report submitted by the Social and Cultural Committee on hosting officials from the Social Protection Fund to discuss with them a mechanism for applying the social protection system.
