The Oman Investment Authority (OIA) sovereign wealth fund continued to grow in 2023, its assets rising $3bn year-on-year to $50bn in 2023, according to its recently released annual report.

OIA also recorded $3.1bn in profit last year, of which more than $2bn went to Muscat’s state budget, with over $1bn of that earmarked for the recently-set-up Future Fund Oman (MEES, 26 January). According to the report “This amount comes from profits and returns only, without the need to liquidate or sell any assets to generate liquidity.” (CONTINUED - 183 WORDS)