Latest news with #IncentiveProgramme
Observer
06-05-2025
- Business
- Observer
MSX promotes promising companies market at roadshow
MUSCAT: The Muscat Stock Exchange (MSX) kicked off its first governorate-level session on the Promising Companies Market and Incentive Programme on May 5. The event, held in collaboration with the Oman Chamber of Commerce and Industry (OCCI), marks the start of a nationwide series aimed at strengthening the investment landscape and broadening access to financing across Oman. This initiative aligns with a wider national strategy to diversify income sources, deepen the financial sector, and cultivate a new generation of savvy investors—part of the broader goals of Oman Vision 2040. The Incentive Programme, developed by the Oman Vision 2040 Implementation Follow-up Unit under the Capital Market Development initiative, offers tailored support to help closed and family-owned businesses list on the MSX. The programme follows three tracks: 1. Supporting the transformation of companies valued over RO 10 million into public joint-stock companies. 2. Launching the Promising Companies Market for SMEs with a market value above RO 500,000. 3. Encouraging limited liability companies with over 20 Omani employees and similar valuations to become closed joint-stock companies. Majda bint Saeed al Hinai, Project Manager, noted that the programme fosters financial sustainability through improved access to funding, stronger corporate governance, and enhanced transparency. She added that the Promising Companies Market balances regulatory standards with the private sector's needs. Noor al Hamidiyah of the Financial Services Authority outlined the listing process, which includes company valuation, appointment of an issuing manager, prospectus preparation, and registration with the Muscat Clearing and Depository Company. Bader bin Hamood al Hinai, Chief Operating Officer at MSX, explained listing requirements such as legal entity structure, two years of financial history, a one-year lock-in period for founders' shares, and audited financial statements—though exemptions may apply. Eligible investors include existing shareholders, licensed financial institutions, insurance companies, the Social Protection Fund, investment funds, and high-net-worth individuals. Investor services such as the 'Saham Oman' mobile app, portfolio monitoring, and pledge options were also highlighted. Ibrahim bin Ahmed al Balushi from the Muscat Clearing and Depository Company announced a three-year waiver on transfer agent fees for companies joining under the programme. He also introduced a comprehensive suite of services designed for issuers and investors in the Promising Companies Market.
Muscat Daily
04-05-2025
- Business
- Muscat Daily
MSX kicks off meetings for Parallel Market for Promising Companies
Muscat – Muscat Stock Exchange (MSX) held on Monday the first awareness session of its investment campaign on the Parallel Market for Promising Companies and the Incentive Programme. The first event, hosted at the National Bank of Oman (NBO) headquarters, was held under the patronage of Mahmood bin Abdullah al-Aweini, Secretary General of the Ministry of Finance, and attended by officials, investors, and financial specialists. The initiative aims to boost investment awareness and promote financial literacy across all segments of society. The introductory meetings, scheduled to be held in a number of governorates, are in line with the efforts of the National Programme for Fiscal Sustainability to enhance a culture of investment in Oman, and develop the financial sector as well. This is being done in cooperation with the Ministry of Finance, the Ministry of Commerce, Industry and Investment Promotion, the Financial Services Authority, and Muscat Clearing and Depository Company, as part of Muscat Stock Exchange's ongoing efforts to raise investment awareness and promote financial literacy across the community. Through this programme of meetings, the exchange also aims to reflect the objectives of Oman Vision 2040, which include building an efficient and integrated financial system that supports sustainable growth and provides an attractive investment environment based on transparency and efficiency. The launch meeting also addressed the 'Incentive Programme for the Capital Market Sector', highlighting the fundamental link between government-led incentives and the dynamics of the financial market. Several key themes were discussed, most notably the direct and indirect economic impact of the incentive programme in driving investment; the role of Muscat Stock Exchange in converting these financial flows into long-term investment instruments; and enhancing financial inclusion by involving new categories of investors, especially youth and entrepreneurs. The session witnessed notable engagement from attendees, including university students, representatives of small and medium-sized enterprises, and individuals interested in the fields of economy and investment. Discussions covered topics such as governance mechanisms, the importance of transparency, and the need to empower local investors. To build on this initiative, MSX will organise a series of meetings in the governorates in cooperation with the branches of the Oman Chamber of Commerce and Industry. Starting with the inaugural awareness session in Muscat Governorate on Sunday, it will be followed by South Al Batinah on May 14, North Al Batinah on May 19, Al Dakhiliyah on May 21, and South Al Sharqiyah on May 22. The meetings in Al Dhahirah and Al Buraimi will be held on May 26 and May 27, respectively. The session in North Al Sharqiyah will be held on June 2, followed by Al Wusta on June 16, and Dhofar on June 18. The date for the session in Musandam Governorate will be determined at a later time. These meetings and sessions are an extension of a comprehensive strategy aimed at creating a more attractive investment environment for both local and foreign investors, supporting the government's efforts to diversify sources of income by developing the financial sector, and preparing a new generation of knowledgeable and experienced investors.
