Nasser Khamis Al Jashmi, Secretary General of the Ministry of Finance, has said that the capital market’s fiscal sustainability programme asserts the existence of various opportunities to improve the current conditions. The programme also enhances the sector’s role in meeting the objectives of Oman Vision 2040 and developing the targeted economic diversification sector.
Al Jashmi made the statement during a speech he delivered at the opening of the Annual Conference of Arab Federation of Capital Markets (AFCM), hosted by the Sultanate of Oman.
He added that the next stage will focus on expanding the volume and depth of Muscat Stock Exchange through initiatives to increase initial listings and encouraging private sector firms’ engagement.
The Fiscal Sustainability Programme seeks to devise an annual plan targeting a group of annual listings, enhancing trading and liquidity at the stock exchange and improving financial services provided to investors by increasing competitiveness between financial services companies and encouraging technology and innovation.
On his turn, Haitham Hamad Al Salmi, CEO of Muscat Stock Exchange and AFCM Chairman said that everyone should work to promote and encourage sustainability practices, whether at the level of institutions or listed companies, and provide an attractive investment climate for international investors.
A set of panels were held during the first day of the conference covering the following topics: Future of Business: Spotlight on Oman, the Race to Zero: Challenges and Opportunities, Carbon Markets and Trading, Carbon Credit: Financing the Transition to a Low-Carbon Economy and Navigating a Challenging PIPE Market and Alternative De-SPAC Financing Structures.
The AFCM Annual Conference, the largest event for stock exchanges and capital markets in the Arab world, is a distinguished platform that gathers leaders from across the Arab capital markets industry, to exchange ideas and visions on the most suitable means to provide key opportunities and the ideal environment to promote the growth of the Arabian capital market ecosystem, in addition to enhancing integration and liquidity among exchanges across the region.
The conference seeks to bring the interests of the Arab capital markets to life on all levels, boosting cooperation and coordinating efforts to ultimately enhance liquidity and motivate companies, in an effort to develop and enhance the region’s capital markets.
Source: Oman News Agency