Pact to enhance Oman’s connectivity with global financial markets
The Capital Market Authority (CMA) together with the Muscat Clearing & Depository Company SAOC (MCD) have collaborated with Euroclear Bank SA/NV based in Belgium to establish a new Euroclear international central securities depository (CSD) account in the Sultanate of Oman which will be operated by MCD.
Abdullah bin Salem al Salmi, Executive President of the CMA, said, “This important initiative led by the CMA is part of our continuous efforts to enhance and develop the financial market in the Sultanate of Oman and to enhance our global connectivity to the international financial markets.”
Mohammed Abdulhadi, General Manager of MCD, commented, “With this collaboration with Euroclear Bank, MCD will be the sole point for all Euroclear transactions in Oman and we certainly look forward in working together with all market players to provide our cost effective services of Euroclear.”
Bernard Ferran, General Manager, Europe, Middle East & Africa at Euroclear Bank, added, “We are pleased to see further advancements in the Omani financial markets with the opening of this account in Euroclear Bank which will create cross borders settlement efficiencies.”
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