MUSCAT: The Securities Commission Malaysia (SC) and the Financial Services Authority (FSA) of Sultanate of Oman have agreed to enhance the cooperation and development of capital markets and knowledge sharing and capacity building.
An agreement to this effect was signed by the two authorities represented by Abdullah bin Salim al Salmi, Executive President of the FSA and Dato’ Mohammad Faiz Azmi, Chairman of the FC Malaysia last week.
The two-year collaboration and cooperation agreement seeks to advance a strategic partnership between the two authorities aimed at promoting resilient, transparent and innovative capital markets. It will also focus on joint capacity building initiatives, knowledge exchange and the promotion of Oman and Malaysia as attractive investment destinations.
Speaking after the signing ceremony, Abdullah bin Salim al Salmi, Executive President of the FSA said that the key areas of cooperation through the joint programme include joint cross-market promotion of Malaysian and Omani investment opportunities to investors in both countries and assessing the feasibility of having a mutual recognition agreement between the SC and FSA Oman to promote the cross/dual listing of products and listed companies.
"Also, we will be focusing on joint development programmes including staff secondment and other training programmes, besides knowledge sharing on published capital market research, policy frameworks and market development strategies", he said.
“Our partnership with the Securities Commission Malaysia is a bridge between ASEAN and GCC capital markets. With the signing of our joint cooperation programme, we are building on strong foundations and expanding collaboration in areas such as capacity building, sustainable finance and market innovation", he added.
As part of this cooperation, the SC welcomed the participation of FSA Oman regulators in the Young Regulators Development Programme, organised in collaboration with Durham University, United Kingdom.
Dato’ Mohammad Faiz Azmi, SC Chairman said that the Joint Programme marks another SC milestone engagement with its counterparts in the Gulf Cooperation Council (GCC), particularly the FSA Oman.
“Through this collaboration, we aim to enhance knowledge exchange, promote each market’s unique investment proposition — ultimately driving sustainable growth across. Together, we are building a partnership that benefits our markets, investors and economies”, he added.
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