MUSCAT : The new framework, which serves as a legal reference for all operations, aims to enhance trust in MCDC’s activities and reinforce transparency, fairness, and professionalism across the capital market sector. The rules clearly define the rights, obligations, and responsibilities of the company, its clients, and stakeholders benefiting from its services.

Prepared in cooperation with a global expert firm, the project is part of MCDC’s obligations under the Securities Law and plays a pivotal role in implementing Oman’s “2024 Vision” and the company’s five-year strategy (2024–2028). Care was taken to ensure alignment with international best practices while tailoring them to Oman’s financial ecosystem.

The rules cover a wide spectrum of operations, including membership requirements in MCDC, management of securities accounts, maintenance of the central securities register, handling mortgages, seizures, and collateral, as well as depository, clearing, and settlement services. They also provide a framework for corporate actions such as dividend distributions, cash entitlements, and share allocations, in addition to governing bilateral securities lending and borrowing, a practice introduced earlier this year.

Mohammed bin Saeed Al Abri, CEO of Muscat Clearing and Depository Company, said: “The services provided by the company have witnessed a remarkable qualitative development recently, particularly in the field of digital transformation and the launch of new activities that enhance market efficiency, raise the quality of services provided, and strengthen the Sultanate of Oman’s position as a primary destination attracting foreign investments. The need has emerged for comprehensive regulatory rules that cover the scope of businesses and services provided by the company in a systematic, precise, clear, and publicly announced manner.”

He added in a statement to the Oman News Agency that these rules aim to enhance professionalism and transparency in the company’s dealings with all relevant parties, and contribute to protecting rights and clarifying the obligations, responsibilities and duties of all stakeholders.

He expressed his hope that stakeholders and the investor community will play an active role in improving and developing these rules by providing their opinions and comments to enhance the quality of services provided in the Omani capital market.

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