MSM signs MoU to develop capital market sector
Times of Oman | April 10, 2018- Muscat Securities Market (MSM) and London-based Hayat Capital signed a memorandum of understanding (MoU) to provide advisory services for the development of the capital market sector in the Sultanate.
Ahmed Bin Saleh Al Marhoon, Director General of the Muscat Securities Market, signed the agreement on behalf of MSM and Asif Malik on behalf of Hayat Capital.
The pact aims to take initiatives to develop the capital market sector in the Sultanate, attract local and regional companies to be listed on the MSM, and promote the Elite training programme adopted by the London Stock Exchange (LSE). The frameworks of public shareholding companies and the activation of their governance principles, as well as cooperation with relevant institutions and various financial institutions to develop the stock market.
Ahmed Bin Saleh Al Marhoon, Director General of Muscat Securities Market, stressed the importance of the pact signed between MSM and Hayat Capital to activate various aspects related to the development of the stock market. The company is one of the world's leading institutions and has a par experience in securities. Thus serving the development of our markets.
The Director General of the Muscat Securities Market said that the training programme (Elite) is one of the most advance training programmes that contains a series of topics related to the development of human competencies in running small and medium enterprises (SME’s) as well as family businesses and enable them to keep pace with changes in international markets, Its permanence will work on solid foundations.
Al Marhoon pointed out the importance of the Elite training programme in relevance to the principles of governance important for the growth and development of our local family and small/medium businesses. The programme is in line with the Sultanate's efforts to consolidate these principles and the positive impact on the future of these companies.
Asif Malik, director of Hayat Capital, said that the memorandum of understanding signed with MSM will work to develop the securities market in the Sultanate and allow the participation of the London Stock Exchange in the development process.
He noted that Hayat Capital is currently establishing its office in Muscat, In order to draw on local and international expertise to support the various specialised programmes, looking forward to building strategic and long-term relationships with the MSM, the Capital Market Authority (CMA), the General Reserve Fund and other related institutions in the Sultanate.
The event was attended by a number of officials from the MSM. The MoU was signed at the office of the Director General of Muscat Securities Market.