Personal Financial Advisors & Fund Managers

Personal Financial Advisors & Fund Managers

The Labor Law in Oman was issued by His Majesty’s Decree No 35/2003. It applies to all Omani or Expatriates Employer and Employees, Public and Private organizations, and other various entities, which practice their exercises in the Sultanate of Oman.
The Omani Labor Law is separated into various sections comprising of: definitions, general arrangements, work of residents and guideline of outsiders’ work, agreement of work, the wages, leaves and working hours, work of adolescents and ladies, modern wellbeing, etc. and the overall league for the laborers of the Sultanate of Oman and punishments.
Ministry of Manpower controls the labor market with the commitment from every one of the three partners (Government, Employers and Employees) and strive to increase the level of public labor in the private sector, to upgrade its job in supporting the economy. Also, one of the Ministry’s privileges is “Executing and following up all projects identifying with the work of public labor force and evaluating its presentation in participation with the concerned specialists.”
Accordingly, inorder to achieve its objective the Oman Labor Law has also levied numerous compliance requirements, fines, penalties, etc., which if not duly followed by the entity will result into substantial fines and other penal provisions which shall affect the reputation of the entity.

 

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