Oman's CMA to carry out IOSCO project

MUSCAT - Oman's Capital Market Authority (CMA) has been selected to carry out a project to develop fixed debt instruments in African and Middle East countries by the International Organisation of Securities Commission (IOSCO).

By From Our Correspondent

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Published: Thu 13 Jul 2006, 11:56 AM

Last updated: Sat 4 Apr 2015, 3:09 PM

The Sultanate was chosen by IOSCO's committee on Africa and Middle East during a meeting of the commission's 31st conference in Hong Kong recently, CMA Executive President Yahya bin Saud Al Jabri said here yesterday.

He added that the committee had tasked the CMA with preparing a comprehensive study on the development of debt instruments as part of efforts to ensure implementation of its decisions by the member states.

Underlining that Oman was a pioneer in the field, he noted that the country had carried out a comprehensive study on developing such instruments in 2003. Also, the Sultanate had taken appropriate measures to implement recommendations of an evaluation report on financial sectors prepared by the World Bank and the International Monetary Fund (IMF), he added.

Jabri said countries around the world were paying special attention to securities markets due to their role in serving the economy by providing adequate financing to development projects as well as for their other significant role as a tool to carry out monetary polices, assist in cash flow control and attract individual and corporate investments."

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