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Merge 104.8 | 04 June 2020
His Majesty Sultan Haitham Bin Tarik has issued a Royal Decree today [Thursday, June 4] Oman News Agency (ONA) has announced.
In a statement issued online, ONA declared that the Royal Decree issued by His Majesty the Sultan pertained to the establishment of the Oman Investment Authority.
As reported by Merge 104.8’s sister station Al Wisal FM, the Royal Decree further states that: “All ownership of government companies and investments is transferred to the Oman Investment Authority from the Ministry of Finance, with the exception of the Oman Petroleum Development Company and government contributions to international institutions and companies for which an order is issued by His Majesty the Sultan.”
As per the Royal Decree, the Oman Investment Authority will fall under the auspices of the Council of Ministers.
Source: Al Wisal
(Also read: Oman: His Majesty issues two Royal Decrees.)
