Muscat – Muscat Stock Exchange (MSX) is teaming up with the UAE-based Al Ramz Corporation Investment and Development and Oman-based Ubhar Capital to formulate capital market initiatives.
MSX, Al Ramz and Ubhar Capital will devise plans aimed at improving the participation of Oman’s capital markets in propelling economic development in keeping with Oman Vision 2040, according to a statement issued by the exchange.
MSX aims to promote initial public offerings (IPOs), diversify capital market solutions and encourage investment and facilitate it to investors in order to accomplish market upgrade.
Haitham al Salmi, CEO of Muscat Stock Exchange, said, “MSX is keen on strengthening Oman’s national economy and reach a consolidated target which is consistent with Oman Vision 2040. This mandate will help achieve economic objectives, enhance the stock exchange’s strategic plan to expand market depth, promote its role in raising capital and create a benign investing environment that will promote public offerings and induce domestic as well as foreign investment flows.”
He added, “Al Ramz and Ubhar Capital have a good reputation and position in the regional capital markets, and we count on this agreement that it will produce results that give the stock exchange its position and provide various financial solutions that serve all categories of investors.”
Sheikh Abdulaziz Khalifa al Saadi, CEO of Ubhar Capital, said, “We are honored to be a part of this mandate which aims to develop our capital market in line with Oman’s vision 2040. The MSX initiative is set to mobilize public and private actors in the pursuit of Oman’s economic development. Ubhar Capital is fully committed to this opportunity to make tangible contributions to our capital markets by utilizing its existing talent pool and experience through market cycles.”
MSX plans to promote confidence in capital markets by raising the level of governance and transparency in financial markets and enhancing data availability. It also plans to develop the regulatory environment to ensure investors protection and enhance overall attractiveness and competitiveness.