Latest news with #AhmedbinAliAlMaamari
Zawya
6 days ago
- Business
- Zawya
Promising Companies Market regulatory framework to boost Oman's capital market and funding access
Ahmed bin Ali Al Maamari, Executive Vice President of the Financial Services Authority (FSA), affirmed that the issuance of the Promising Companies Market regulation advances the incentive programme to develop the capital market in the Sultanate of Oman. The programme, endorsed by His Majesty Sultan Haitham bin Tarik, may Allah protect and preserve him, aligns with Oman Vision 2040 goals to enhance economic diversification and the investment environment. In an official statement, he highlighted that the regulation provides a flexible framework enabling private, family-owned, emerging, and small and medium enterprises to access alternative financing tools in a transparent, adaptable investment environment. This, he noted, helps create diverse funding opportunities in the local market to meet companies' growth and expansion needs. He explained that the incentive programme includes three main tracks, one of which is establishing the Promising Companies Market as a sub-market within the Muscat Stock Exchange. Its alignment with the regulation, he added, offers more flexible financing options and supports companies in achieving higher levels of institutional maturity and sustainable growth. The regulation, he said, sets out clear listing mechanisms and simplified initial requirements, such as achieving specified annual growth rates, meeting a minimum number of shareholders, and paying fixed, published fees. These measures reduce market entry barriers and improve corporate transformation efficiency. The Executive Vice President invited all eligible private sector companies to explore the financing and listing options offered by the Promising Companies Market. Haitham bin Salem Al Salmi, CEO of Muscat Stock Exchange (MSX), said the creation of the Promising Companies Market represents a key structural development in Oman's capital market system. It will provide a specialised financing channel for emerging, small and medium enterprises, as well as family-owned and private companies, under phased regulatory requirements that enable a smooth transition to the main market. Al Salmi added that the MSX, as the market operator, will offer a fully integrated trading environment supported by advanced technology, flexible disclosure models tailored to growth-stage companies, and governance standards aligned with their nature, which he said would strengthen qualified investor confidence and stimulate market liquidity. He affirmed that the initiative aligns with MSX's strategy to broaden the investor base and diversify investment tools and products, enabling companies to access capital efficiently while enhancing corporate maturity, thereby boosting the competitiveness of the national economy, supporting Oman Vision 2040 goals for private sector development and attracting quality investments. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
11-08-2025
- Business
- Times of Oman
Promising Companies Market regulatory framework to boost Oman's capital market and funding access
Ahmed bin Ali Al Maamari, Executive Vice President of the Financial Services Authority (FSA), affirmed that the issuance of the Promising Companies Market regulation advances the incentive programme to develop the capital market in the Sultanate of Oman. The programme, endorsed by His Majesty Sultan Haitham bin Tarik, may Allah protect and preserve him, aligns with Oman Vision 2040 goals to enhance economic diversification and the investment environment. In an official statement, he highlighted that the regulation provides a flexible framework enabling private, family-owned, emerging, and small and medium enterprises to access alternative financing tools in a transparent, adaptable investment environment. This, he noted, helps create diverse funding opportunities in the local market to meet companies' growth and expansion needs. He explained that the incentive programme includes three main tracks, one of which is establishing the Promising Companies Market as a sub-market within the Muscat Stock Exchange. Its alignment with the regulation, he added, offers more flexible financing options and supports companies in achieving higher levels of institutional maturity and sustainable growth. The regulation, he said, sets out clear listing mechanisms and simplified initial requirements, such as achieving specified annual growth rates, meeting a minimum number of shareholders, and paying fixed, published fees. These measures reduce market entry barriers and improve corporate transformation efficiency. The Executive Vice President invited all eligible private sector companies to explore the financing and listing options offered by the Promising Companies Market. Haitham bin Salem Al Salmi, CEO of Muscat Stock Exchange (MSX), said the creation of the Promising Companies Market represents a key structural development in Oman's capital market system. It will provide a specialised financing channel for emerging, small and medium enterprises, as well as family-owned and private companies, under phased regulatory requirements that enable a smooth transition to the main market. Al Salmi added that the MSX, as the market operator, will offer a fully integrated trading environment supported by advanced technology, flexible disclosure models tailored to growth-stage companies, and governance standards aligned with their nature, which he said would strengthen qualified investor confidence and stimulate market liquidity. He affirmed that the initiative aligns with MSX's strategy to broaden the investor base and diversify investment tools and products, enabling companies to access capital efficiently while enhancing corporate maturity, thereby boosting the competitiveness of the national economy, supporting Oman Vision 2040 goals for private sector development and attracting quality investments.
Zawya
20-02-2025
- Business
- Zawya
Takaful Oman Insurance opens new Sohar branch, expands digital services with intelligent claims Administration System iCAS
Muscat: Takaful Oman Insurance is advancing its leadership in Oman's insurance market by expanding its digital and physical presence. As part of its ongoing commitment to digital transformation, the company opened its new Sohar branch on January 20, 2025, while also enhancing its service offerings with the launch of the Intelligent Claims Administration System (iCAS). This new branch marks a strategic milestone in Takaful Oman Insurance's effort to provide a seamless blend of physical and digital services. The branch features a modern design and a spacious layout, providing customers with a comfortable environment to complete their insurance transactions. It includes dedicated sections for Takaful insurance products and a separate area for claims. The company's new, pioneering digital claims platform, iCAS, is designed to streamline the motor claims process with real-time updates, digital surveys, and automated payments. The opening ceremony was attended by prominent figures, including H.E. Sheikh Mohammed bin Abdullah Al Busaidi, Wali of Sohar; Ahmed bin Ali Al Maamari, Vice Executive President of the Financial Services Authority; and Ali bin Saif Al-Mani, Board Member of Takaful Oman Insurance. Additionally, community leaders from Sohar joined in celebrating the company's efforts to strengthen the insurance sector's development in the region. Speaking at the event, Mr. Neelmani Bhardwaj, CEO of Takaful Oman Insurance, stated, 'We are thrilled to open this branch in Sohar, which is an important region for us due to its growing economic influence.' He also added, 'Our digital services, like iCAS, are transforming the way we serve our customers. However, we understand that some may prefer to engage with us in person, which is why this branch is designed to bring the best of both worlds together. Whether customers visit us in person or interact with us online, they will experience the same high level of service, convenience, and efficiency.' He continued, 'The launch of this branch is part of our broader digital transformation strategy that aligns with the Financial Services Authority's national plan to modernize Oman's insurance sector. It reflects our commitment to providing faster, more secure, and accessible insurance solutions to customers across the Sultanate.' Takaful Oman Insurance remains dedicated to expanding its digital footprint while enhancing its physical presence to meet the evolving needs of its customers. Through the strategic combination of cutting-edge technology and a growing network of branches, the company is further reinforcing its leadership in the Omani insurance market.
