Monday, February 10, 2025 | Sha'ban 10, 1446 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Promising Companies Market to help family firms, SMEs

Muscat Stock Exchange
Muscat Stock Exchange
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The Financial Services Authority (FSA) has said that His Majesty Sultan Haitham bin Tarik and his wise government are attached to developing the investment and business environment in the Sultanate of Oman in general and to developing the capital market sector in particular.


The Royal Decree establishing a submarket in the Muscat Stock Exchange named the Promising Companies Market is a clear manifestation of such attention and support as it will aim to attract private and family companies, small and medium enterprises, and emerging companies with a market value of no less than half a million Riyals to be listed to achieve two goals.


The first is to enable these enterprises and companies to benefit from the financing alternatives offered by the capital market, which enables these companies to grow and expand, and the second is to enable the companies to adopt recognized standards for the governance of their management and operations to ensure sustainability and continuity with the succession of generations.


The FSA emphasizes that the move will enhance the role of the capital market as a major financing tool that contributes to creating an attractive investment environment that supports the national economy under the national priorities of the "Oman Vision 2040."


On the other hand, the presence of the companies in the market will prepare them to meet the requirements for offering their shares to the public and thereby listing on the main market in the future after satisfying the requirements for listing on the stock exchange.


The Decree confers FSA the powers to supervise and regulate the companies listed on the promising market and issue decisions and regulations regulating their operations in coordination with the relevant entities.


The Financial Services Authority is responsible for regulating and supervising closed joint stock companies listed on the Promising Companies Market and its Chairman of the Board of Directors of the Financial Services Authority will issue the regulations and decisions for implementing the Decree in coordination with the relevant entities.


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