Tuesday 05 / November / 2024
Istanbul: The Sultanate of Oman, represented by the Ministry of Economy, participated in the 40th Ministerial Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organisation of Islamic Cooperation (OIC), which was held in Istanbul, Türkiye on Monday.
The Omani delegation was headed by Dr. Said Mohammed Al Saqri, Minister of Economy. He delivered the Sultanate of Oman’s speech during which he reviewed the efforts made by the Sultanate of Oman to enhance digital transformation in the financial sector and its experience in dealing with payment systems and developing them in line with global systems.
He stated that the Sultanate of Oman has implemented a set of national initiatives to support this transformation, including a “three-year National Payment Systems Strategy (2026-2024)” to facilitate electronic payments and enhance financial efficiency.
The minister stressed the Sultanate of Oman’s commitment to enhancing cooperation with OIC member states to exchange expertise and best practices in the field of digital transformation, which contributes to achieving sustainable economic development in the region.
The ministerial session discussed international developments and their repercussions on the OIC member states.
The reports submitted by various institutions of the OIC and COMCEC working groups were also reviewed, covering topics such as intra-trade, financial cooperation, transport and communications, tourism, agriculture, and poverty alleviation.
The member states also discussed the latest developments regarding the activation of the trade preference system among member states and the definition of the list of privileged goods with countries wishing to join the system.
