Muscat, 17 Jan (ONA)—The board of directors of Muscat Stock Exchange (MSX) held the first meeting of the year (2022) under the auspices of Mohammed Mahfoudh Al Ardhi, Chairman of MSX Board of Directors.
The board discussed a variety of topics, including the approval of MSX strategic plan.
Al Ardhi stressed that the board of directors is working hand in hand with all parties concerned to remove obstacles and address challenges in a manner that transforms them into opportunities to consolidate the status of the stock exchange. It envisages ways to have the investment map capable of meeting the aspirations and realizing the desired goals.
He added that the strategy, approved during the meeting, focuses on developing the national economy and upgrading the attractiveness of the stock market, utilizing financial technology to improve commercial performance of the stock market and to develop the infrastructure at MSX.
Al Ardhi said that the goals set by the board include upgrading the status of MSX from a nascent bourse (according to rating agencies). This necessitates augmenting the liquidity of enlisted shares and market values, streamlining the listing of foreign investments and activating some trading features like over-the-counter sales, lending and borrowing of securities, among other initiatives aimed to empower MSX to meet the requirements of global indices.
Al Ardhi referred to an agreement with Oman Investment Authority to list some government firms in the course of this year to boost liquidity and expand the depth and attractiveness of MSX.
Al Ardhi affirmed that MSX possesses the fundamentals of success and he called for rallying efforts of all parties concerned to accomplish the mission of the stock market, guided by the strategic plan aimed to establish a diversified economic schema. The overall objective, he explained, is to utilize Oman’s plus points to realize a comprehensive and sustainable development.