MUSCAT : His Excellency Abdullah bin Salim Al Salmi, Executive President of the Financial Services Authority (FSA), said the development sends a positive signal to global investors about the progress of Oman’s capital market and could help make the market more attractive to foreign capital, including investments from international funds.

The Watch List inclusion represents a preliminary stage in the potential upgrade of MSX to Secondary Emerging Market status.

In a statement issued by FSA, His Excellency Al Salmi said reaching this stage reflects the progress made in Oman’s capital market and the coordinated efforts of the FSA, Oman Investment Authority (OIA), MSX, Muscat Clearing and Depository (MCD) and other relevant institutions.

The next phase will require continued cooperation among stakeholders to meet the requirements needed to strengthen the prospects of reclassification, he said.

“The comprehensive legislative and regulatory review undertaken in Oman’s capital market over the past five years has contributed to MSX reaching this significant milestone. The review included the restructuring of the market, the issuance of the Executive Regulation of the Securities Law, as well as the approval of licences for market makers and liquidity providers on MSX. In addition, disclosure practices and regulatory supervision systems have undergone significant developments, both through improvements in regulatory procedures and the adoption of technological solutions.

“Efforts have also focused on facilitating the investor journey in Oman’s capital market for both local and foreign investors by improving relevant procedures and systems and enhancing the efficiency of services provided to investors. Furthermore, the market’s infrastructure, trading mechanisms settlement processes and custody arrangements have continued to develop in line with international standards and practices, contributing to the attraction of further investment into the market,” he stated.

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