MUSCAT: Oman’s Financial Services Authority (FSA) has outlined new executive regulations for the Securities Law aimed at creating a more competitive investment environment, expanding financing options and strengthening the Sultanate’s capital market.

The FSA said the regulations would focus on facilitating the economic utilisation of national wealth and assets while providing greater protection for investors and creating an enabling investment environment for market participants.

The authority’s Executive President H.E. Sheikh Abdullah bin Salim Al Salmi said the Securities Law and its executive regulations were designed to make Oman’s investment environment more efficient and competitive and more attractive to both domestic and foreign capital.

The framework would also provide financing alternatives that support the national economy and contribute to achieving the objectives of Oman Vision 2040, the official said during a press conference outlining the regulations.

Al Salmi said the executive regulations would form a cornerstone of the next phase of Oman’s capital market development, combining investor protection with greater diversification of financial products, support for innovation and an enhanced role for capital markets in financing projects.

A key element of the regulations is an expansion in the types of collective investment funds, with the framework regulating 11 different categories of funds. The authority said the move was significant because investment funds were among the main platforms expected to drive the development of Oman’s capital market.

The FSA also highlighted the role of investment banks, saying the development of the capital market required effective institutions capable of supporting market growth, improving efficiency and providing appropriate financing solutions and alternatives.