FSA Signs a Memorandum of Understanding with PDO

The Financial Services Authority (FSA) signed a Memorandum of Understanding (MoU) with Petroleum Development Oman (PDO) to establish an In-Country Value (ICV) enabling ecosystem; as part of the ICV Day organized by PDO.  During the event, PDO signed MoUs with several government and private entities.

This initiative focuses on dealing with the major challenges faced by local companies interested in ICV investments.  Such challenges include access to demand, infrastructure, finance, technology, and an enabling legislative framework.  The initiative also works on developing a system that enhances relationships aligned with the principles of public interest on the one hand and strengthening collaboration between the public and private sectors on the other hand.

The MoU was signed by HE Sheikh Abdullah Salim Al Salmi, the Executive President of the FSA and Dr. Aflah Said al Hadhrami, PDO’s Managing Director.  Through this step, the FSA endeavors to create an attractive investment environment and provide investment instruments aligned with the global trend of reducing carbon emissions and preserving the environment. The Bond and Sukuk Regulation of the FSA, included green bonds that ensures the importance of investments in projects preserving the environment.