Capital markets ripe for growth on key reforms

09/07/2011 00:00 AST

Oman’s capital markets are primed for expansion as a wave of key reforms in the Sultanate’s financial services sector gain pace, according to Yahya bin Said bin Abdullah Al Jabri, the executive president of the Capital Markets Authority (CMA).

Speaking exclusively to Oxford Business Group (OBG), the global publishing, research and consultancy firm, Al Jabri voiced his confidence that legislative changes and incentives aimed at encouraging family holdings to list on the Muscat bourse, should play a role in attracting investors to Oman.

He also predicted that activity on the Muscat Securities Market (MSM) would improve in the coming months, with a number of new initial public offerings (IPOs) slated to list, including an Islamic bank which is earmarked to enter the market towards the end of 2011.As a new player, the trillion-dollar Islamic finance industry is expected to contribute significantly to the expansion of Oman’s capital markets.

“We have witnessed 6 -7 per cent growth in the Muscat Securities Market sector since last year, which shows that the capital markets have slowly recovered from the world financial crisis,” Al Jabri noted. “Investors have started to return and are investing in the market.”

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