Transformation of MSM to Muscat Stock Exchange completed

Transformation of MSM to Muscat Stock Exchange completed

Muscat: An Omani closed joint stock company has been established under the name of Muscat Stock Exchange (MSX), from Saturday (April 10, 2021) to takeover and undertake all activities and functions of the Muscat Securities Market (MSM). This was in accordance with the Royal Decree No. 5/2021 issued by His Majesty Sultan Haitham bin Tarik, dated January 5, 2021 (Royal Decree). In accordance with the Royal Decree, all assets, liabilities, activities, rights and functions of MSM stand transferred and assigned to MSX. The Muscat Stock Exchange will operate under the umbrella of Oman Investment Authority (OIA), which has been established to provide financial solutions to the Sultanate's diverse and growing economic demands. The MSX with the support of OIA will work to increase Oman's Foreign Direct Investments (FDIs) as well as help support MSX members to participate in the continued march of Renaissance to find new avenues and instruments for the growth of the Sultanate's national economy. The transformation of the market to a closed Omani joint stock company will enhance the investment development process, both by providing an effective platform full of opportunities for listing and trading securities, as well as supporting diversity in economic development plans and ensuring