OIA announces formation of MSM board of directors

MUSCAT: Oman Investment Authority (OIA) has announced the formation of board of directors of Muscat Stock Exchange in preparation for the stock market’s launch in accordance with Article (7) of Royal Decree No 5/2021 establishing Muscat Stock Exchange as a closed Omani joint stock company. Abdulsalam bin Mohammed al Murshidi, Chairman of the OIA, in a meeting with the new board, said that stock exchanges serve as precise indicators for gauging the health of global economies. Al Murshidi vowed full support for Muscat Stock Exchange board as it shoulders the responsibility of ensuring a sustainable growth for the stock market. Muscat Stock Exchange Board is formed as follows: Mohammed bin Mahfoudh al Ardhi, Executive Chairman of Board of Directors of Investcorp, as Chairman of Muscat Stock Exchange, and the following as members: Abdullah bin Saleh al Suwailmi, former executive president of Saudi Stock Market (Tadawul), as an international member, Ronald Shwain, board member delegate of Sygnum Bank, Singapore and Switzerland, as an international member, Imad Kamal Sultan, member, Deputy Board Chairman and delegate member of board at WJ Towel Group, and Dr Hatim bin Bakhit al Shanfari, member of teaching staff of College of Economy and Political Sciences, Sultan Qaboos University. Oman Investment Authority will be represented at Muscat Stock Exchange Board by Samra al Harthy, Director-General of Economic Research at OIA, and Muthla al Shaqsi, Senior Executive of Investments at OIA. — ONA