Muscat’s Financial Services Authority has ordered the licence of Thara Global Business LLC to be suspended for a three-month period as the company works to meet regulatory capital and equity requirements mandated under Omani securities law. The regulatory move is aimed at enforcing compliance among market participants and bolstering investor protection in the Sultanate’s capital markets.
The Administrative Sanction Decision No. 2/2026, issued by the Financial Services Authority, stipulates that Thara Global’s licence will remain inactive for three months unless the firm rectifies its status to align with the minimum capital and shareholders’ equity criteria set forth in the Executive Regulation of the Capital Market Law. Under Article 58 of the Securities Law, such suspension powers allow the FSA to compel companies to correct compliance deficiencies while temporarily halting their market activities.
The FSA emphasised that this action reflects its mandate to ensure that entities operating within the securities sector maintain sound financial and regulatory standing. The authority’s statement noted that strict enforcement of requirements is essential to strengthen institutional discipline, enhance confidence in securities activities, and uphold the rights of investors and other market participants.
Thara Global Business is registered in Muscat as a capital markets firm and operates within securities services. According to regulatory records, the company was initially registered on 1 January 2019 and holds accreditation to function as a securities firm until December 2027, although its current licence status will be affected by the FSA’s suspension unless corrective steps are taken.
Market analysts view the FSA’s move as part of broader regulatory vigilance that has seen similar actions in the past. For instance, in May 2024 the FSA suspended the licence of Thiqah Investment Funds Management for three months to compel alignment with legal requirements under the Securities Law promulgated by Royal Decree No. 46/2022. Such precedents demonstrate the regulator’s willingness to use statutory powers to enforce compliance among licensed entities.
Financial services experts say that the suspension highlights ongoing pressures on smaller capital markets firms to maintain robust capital buffers and operational resilience in the face of tightening regulatory standards. “Regulators across the Gulf are proactively ensuring that capital markets participants meet not only minimum capital requirements but also broader governance expectations,” said one regional compliance specialist, speaking on condition of anonymity. “It’s a way of preserving market integrity and safeguarding investor confidence, particularly when economic conditions are volatile.”
Sources within Muscat’s financial community noted that companies like Thara Global often face challenges in balancing growth ambitions with the need to maintain regulatory capital thresholds, especially as market competition intensifies and asset valuations fluctuate. The suspension effectively pauses the firm’s capacity to conduct regulated securities activities during the corrective period.
The FSA’s regulatory framework, established to oversee the insurance and capital market sectors, requires licensed entities to periodically demonstrate compliance with financial and prudential metrics. Failure to meet these benchmarks can trigger administrative measures ranging from fines and sanctions to licence suspensions. The authority’s enforcement actions form a key component of a structured regime designed to align market conduct with international best practices.
The suspension notice to Thara Global outlines that the firm must rectify the identified issues to the FSA’s satisfaction before the licence can be reinstated. If compliance is not achieved within the suspension window, further regulatory action could be considered, potentially affecting the firm’s long-term ability to operate within Oman’s financial markets.
Industry observers say that regulatory vigilance in the region has intensified over the last several years, with authorities increasingly scrutinising capital adequacy, governance structures, and risk management practices across financial intermediaries. Stakeholders contend that while such measures may strain smaller firms, they are essential to maintaining the credibility and competitiveness of regional financial centres.
The Administrative Sanction Decision No. 2/2026, issued by the Financial Services Authority, stipulates that Thara Global’s licence will remain inactive for three months unless the firm rectifies its status to align with the minimum capital and shareholders’ equity criteria set forth in the Executive Regulation of the Capital Market Law. Under Article 58 of the Securities Law, such suspension powers allow the FSA to compel companies to correct compliance deficiencies while temporarily halting their market activities.
The FSA emphasised that this action reflects its mandate to ensure that entities operating within the securities sector maintain sound financial and regulatory standing. The authority’s statement noted that strict enforcement of requirements is essential to strengthen institutional discipline, enhance confidence in securities activities, and uphold the rights of investors and other market participants.
Thara Global Business is registered in Muscat as a capital markets firm and operates within securities services. According to regulatory records, the company was initially registered on 1 January 2019 and holds accreditation to function as a securities firm until December 2027, although its current licence status will be affected by the FSA’s suspension unless corrective steps are taken.
Market analysts view the FSA’s move as part of broader regulatory vigilance that has seen similar actions in the past. For instance, in May 2024 the FSA suspended the licence of Thiqah Investment Funds Management for three months to compel alignment with legal requirements under the Securities Law promulgated by Royal Decree No. 46/2022. Such precedents demonstrate the regulator’s willingness to use statutory powers to enforce compliance among licensed entities.
Financial services experts say that the suspension highlights ongoing pressures on smaller capital markets firms to maintain robust capital buffers and operational resilience in the face of tightening regulatory standards. “Regulators across the Gulf are proactively ensuring that capital markets participants meet not only minimum capital requirements but also broader governance expectations,” said one regional compliance specialist, speaking on condition of anonymity. “It’s a way of preserving market integrity and safeguarding investor confidence, particularly when economic conditions are volatile.”
Sources within Muscat’s financial community noted that companies like Thara Global often face challenges in balancing growth ambitions with the need to maintain regulatory capital thresholds, especially as market competition intensifies and asset valuations fluctuate. The suspension effectively pauses the firm’s capacity to conduct regulated securities activities during the corrective period.
The FSA’s regulatory framework, established to oversee the insurance and capital market sectors, requires licensed entities to periodically demonstrate compliance with financial and prudential metrics. Failure to meet these benchmarks can trigger administrative measures ranging from fines and sanctions to licence suspensions. The authority’s enforcement actions form a key component of a structured regime designed to align market conduct with international best practices.
The suspension notice to Thara Global outlines that the firm must rectify the identified issues to the FSA’s satisfaction before the licence can be reinstated. If compliance is not achieved within the suspension window, further regulatory action could be considered, potentially affecting the firm’s long-term ability to operate within Oman’s financial markets.
Industry observers say that regulatory vigilance in the region has intensified over the last several years, with authorities increasingly scrutinising capital adequacy, governance structures, and risk management practices across financial intermediaries. Stakeholders contend that while such measures may strain smaller firms, they are essential to maintaining the credibility and competitiveness of regional financial centres.
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Oman