Pact to enhance Oman’s connectivity with global financial markets

Pact to enhance Oman’s connectivity with global financial markets

Mohammed Abdulhadi, General Manager of MCD, commented, “With this collaboration with Euroclear Bank, MCD will be the sole point for all Euroclear transactions in Oman and we certainly look forward in working together with all market players to provide our cost effective services of Euroclear.”

Bernard Ferran, General Manager, Europe, Middle East & Africa at Euroclear Bank, added, “We are pleased to see further advancements in the Omani financial markets with the opening of this account in Euroclear Bank which will create cross borders settlement efficiencies.”

This new Euroclear account will provide Omani issuers and investors easier access to the global financial markets and Europe’s biggest settlement house for securities, while providing global connectivity to the Muscat Stock Exchange (MSX) and MCD through the Euroclear Bank system.

As such, an investor already having an MCD account in Oman does not need to incur the additional cost nor the hassle to open another CSD account with Euroclear to invest in any instruments listed in other international financial markets connected to Euroclear.

In fact, it will be a more cost effective way to maintain just one account with MCD which is connected to Euroclear Bank’s system. I n addition, in this initial stage, it will also