Monday, December 04
03:44 AM

CMA board of directors approves clearing and settlement regulation

17 Apr 2021

The board of directors of the Capital Market Authority (CMA) on Thursday held its first meeting of 2021 under the chairmanship of H E Sultan Salim al Habsi, Minister of Finance and chairman of the CMA board.

‫The CMA board approved the issuance of the clearing and settlement regulations to match the best global practices in the field. The board took into account that the draft regulation would keep pace with the laws and legislations issued by the specialised departments concerned.

The meeting endorsed audited closing accounts‫ of the CMA, investors fund, insurance emergency fund and casualties fund for the fiscal year ended December 31, 2020, as well as the auditors’ report.‫

The board also took note of the executive process towards the implementation of compulsory health insurance scheme (Dhamani) envisaged in the sultanate, following updates on coordination with the departments concerned.

The board also approved the cancellation of licence given to Al Maha Financial Services Company for operation in the field of securities (upon the firm’s request).

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