Latest news with #MuscatClearingandDepositoryCompany
Observer
26-05-2025
- Business
- Observer
Launch of 9th issuance of Local Sovereign Sukuk announced
MUSCAT: The Oman Sovereign Sukuk Company SAOC, acting on behalf of the Government of the Sultanate of Oman through the Ministry of Finance, has announced the launch of the 9th issuance of Local Sovereign Sukuk. The offering is valued at RO 100 million, with a Greenshoe option to increase the issuance size. This Sukuk will have a 7-year maturity period and offers an annual profit rate of 4.65%. The subscription period is scheduled to commence on Tuesday, May 27, 2025, and will conclude on Sunday, June 1, 2025. The Sukuk are expected to be issued on Wednesday, June 4, 2025 (the Issuance Date). Profit payments will be made semi-annually on December 4 and June 4 until the maturity date of June 4, 2032. This Sukuk issuance is open to all categories of investors, residents and non-residents (irrespective of their nationalities). The Sukuk will be offered through a competitive auction process. Interested investors may submit their bids through the designated collecting banks: Bank Muscat (Meethaq Islamic), ahlibank (ahli islamic), during the specified subscription period. These Sukuk are structured in compliance with Shariah principles and will be tradable on the Muscat Stock Exchange at prevailing market prices. Details of the allotted Sukuk will be recorded in the Sukuk register maintained and managed by the Muscat Clearing and Depository Company. The Oman Sovereign Sukuk Company SAOC underscores the critical importance of ensuring that the bank account number provided in the subscription application precisely matches the account details registered with the Muscat Clearing and Depository Company. This accuracy is essential to facilitate a seamless subscription process and ensure the timely disbursement of profit payments and principal redemption at maturity. - ONA
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.
Zawya
05-03-2025
- Business
- Zawya
Oman: FSA launches awareness campaign for AGMs of listed companies
Muscat – As part of its efforts to raise awareness among investors in securities market, the Financial Services Authority (FSA) has launched a social media campaign under the hashtag #YourAttendanceMatters, coinciding with the annual general meeting (AGM) season for public joint-stock companies in March. The campaign aims to educate shareholders on the importance of attending AGMs, engaging with the agenda, and exercising their legal rights – such as voting on resolutions and holding boards of directors accountable. Shareholders can participate in AGMs via video conferencing through the online platform managed by Muscat Clearing and Depository Company or attend in person if the meeting is held at a physical location. AGMs take place after listed companies on the Muscat Stock Exchange publish their audited annual financial statements, board of directors' report, management discussion and analysis, corporate governance report, and other relevant financial reports. Ordinary AGMs must be held within 90 days of the end of the company's financial year, according to the FSA's guidelines. The FSA continues to stress the importance of listed companies and investment funds taking the necessary steps to hold AGMs, ensuring that shareholders and unit holders receive meeting notices at least 15 days in advance via the platform. AGMs hold significant authority, giving shareholders the right to vote on resolutions, raise objections, and evaluate the performance of board members. They also play a crucial role in electing directors who can effectively lead the company in the best interests of shareholders. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
04-03-2025
- Business
- Muscat Daily
FSA launches awareness campaign for AGMs of listed companies
Muscat – As part of its efforts to raise awareness among investors in securities market, the Financial Services Authority (FSA) has launched a social media campaign under the hashtag #YourAttendanceMatters, coinciding with the annual general meeting (AGM) season for public joint-stock companies in March. The campaign aims to educate shareholders on the importance of attending AGMs, engaging with the agenda, and exercising their legal rights – such as voting on resolutions and holding boards of directors accountable. Shareholders can participate in AGMs via video conferencing through the online platform managed by Muscat Clearing and Depository Company or attend in person if the meeting is held at a physical location. AGMs take place after listed companies on the Muscat Stock Exchange publish their audited annual financial statements, board of directors' report, management discussion and analysis, corporate governance report, and other relevant financial reports. Ordinary AGMs must be held within 90 days of the end of the company's financial year, according to the FSA's guidelines. The FSA continues to stress the importance of listed companies and investment funds taking the necessary steps to hold AGMs, ensuring that shareholders and unit holders receive meeting notices at least 15 days in advance via the platform. AGMs hold significant authority, giving shareholders the right to vote on resolutions, raise objections, and evaluate the performance of board members. They also play a crucial role in electing directors who can effectively lead the company in the best interests of shareholders.
Observer
01-03-2025
- Business
- Observer
FSA launches digital remote trading platforms
MUSCAT, MARCH 1 As part of its continuous efforts to enhance financial inclusion by facilitating access to financial services in the Omani capital market, the Financial Services Authority (FSA) has launched digital remote trading platforms for licensed brokerage firms. These platforms will serve as unified and integrated digital stations within each brokerage firm, streamlining investment processes in the capital market and making investments faster and more efficient. This initiative is expected to boost trading activity in the Muscat Stock Exchange, aligning with modern financial market regulations and adopting a methodology that enhances service quality, ensures data protection, and ultimately strengthens investor confidence. Speaking exclusively to the Observer, Shaikh Abdullah bin Salem al Salmi, FSA Executive President, highlighted that the newly launched digital platforms will significantly ease market access for investors. Previously, challenges such as the necessity for personal connections could impede entry. The launch event, organised by the Authority, was also attended by senior officials from capital market institutions in Oman. The event celebrated the launch of five digital platforms owned by Ubhar Financial Investments, United Securities, International Securities, Jabal Asset Management, and CFI Financial. This initiative was carried out in collaboration with key stakeholders, including the National Programme for Financial Sustainability and Sector Development (Istidama), the Muscat Stock Exchange, Muscat Clearing and Depository Company, and the Oman Credit and Financial Information Center (Mala'a). In his opening speech, the FSA Chairman stated, 'The announcement of these platforms marks a significant milestone and adds great value. It will facilitate access for individuals and institutions, regardless of the size of their investment portfolios, to the necessary services and procedures for entering the investment world in the Omani capital market through a unified and integrated station. This will help attract investments and enhance trading activity efficiently and effectively.' Al Salmi explained that these digital platforms will serve as gateways for investment in the securities market, specifically in the Muscat Stock Exchange. Investors will be able to complete their investment procedures seamlessly by selecting the digital platform of a licensed brokerage firm. Through the platform, they can open an investor account, as it is directly linked to the systems of the Muscat Clearing and Depository Company. Additionally, the platform will automatically provide investor data by integrating with the Oman Credit and Financial Information Center (Mala'a). These platforms will provide investors with a range of features designed to streamline the trading process. Investors will be able to book shares and other securities, ensuring they can secure their desired investments efficiently. They will also have the ability to place buy and sell orders seamlessly, facilitating smooth transactions within the market. Additionally, the platforms will enable secure financial transfers between investors' bank accounts, investment portfolios, and the Muscat Clearing and Depository Company. This ensures that funds are properly allocated for purchases and, conversely, that proceeds from securities sales are seamlessly transferred back to investors' accounts. Al Salmi further emphasised that all licensed brokerage firms must complete the readiness of their electronic platforms by 2025 to ensure a comprehensive digital transformation in the Omani capital market. He highlighted that electronic integration among relevant institutions will facilitate this transition for brokerage firms. He also stressed that this initiative is not just a response to market demands but a necessity to strengthen investor confidence and attract new capital, positioning Oman as a competitive and advanced financial hub. 'Digital transformation is no longer an option; it has become essential for developing financial markets and enhancing competitiveness in the global investment landscape.' The Authority's commitment to providing digital platforms to facilitate investment procedures aligns with one of its key strategic objectives—enhancing the performance of the capital market. This contributes to the priorities of Oman Vision 2040, which focuses on economic diversification, financial sustainability, innovation, and digital transformation.
