Oman Investment Authority restructures boards of its portfolio companies – The National

Oman Investment Authority restructures boards of its portfolio companies – The National

The sovereign wealth fund said it replaced chairmen of five companies

















Oman Investment Authority was established earlier this year after merging the two existing wealth funds. Getty

















July 19, 2020



July 19, 2020













The Oman Investment Authority restructured boards of 15 companies in its portfolio as part of a comprehensive review of its assets, as it looks to boost efficiencies amid the global pandemic, the state news agency reported on Sunday.



The sovereign wealth fund said that it also replaced chairmen of five companies to "achieve efficient management and ideal governance“.



"Boards of directors will operate in line with proper governance procedures and a national agenda to be supervised by the OIA," the Oman News Agency said, quoting the authority.



Oman Investment Authority was established earlier this year after merging the two existing wealth funds the State General Reserve Fund (SGRF) and the Oman Investment Fund (OIF). The new entity manages and owns all public assets, except the Petroleum Development Oman, according to a government decree in June.





The SGRF, had about $14.3 billion (Dh52.5bn) in assets, while OIF