The Sultanate of Oman, represented by the Financial Services Authority (FSA), and the Securities Commission Malaysia (SC) signed today a two-year Joint Programme for Capital Market Development Cooperation to develop and promote capital market and strengthen the strategic partnership between the two friendly countries.

The programme was signed by H.E. Sheikh Abdullah bin Salem Al Salmi, Executive President of the FSA, and H.E. Dato’ Mohammad Faiz Azmi, Executive Chairman of the SC.

Building upon the foundation of the 2003 Memorandum of Understanding between FSA Oman and SC Malaysia, the programme is designed to reinforce the strategic partnership between the two authorities. It will serve as a platform for knowledge exchange, capacity building, and regulatory collaboration, with a focus on market integrity, investor protection, and sustainable growth in both conventional and Islamic capital markets.

The key pillars of cooperation cover capacity-building initiatives, support for learning and development programmes, exploring a Mutual Recognition Agreement (MRA) and Collective Investment Schemes (CIS) passporting, joint efforts in capital market development and promotion, as well as holding periodic dialogues between the SC and the FSA.

H.E. Sheikh Abdullah bin Salem Al Salmi, Executive President of the FSA, said the partnership with the Securities Commission Malaysia is a bridge between ASEAN and GCC capital markets. “With the signing of our joint cooperation programme, we are building on strong foundations and expanding collaboration in areas such as capacity building, sustainable finance, and market innovation, laying the groundwork for resilient, trusted and globally connected financial markets that will benefit both friendly countries and the wider region,” his excellency said.

H.E. Dato’ Mohammad Faiz Azmi, Executive Chairman of the SC, said the Joint Programme signed today marked another milestone in the SC’s engagement with its counterparts in the Gulf Cooperation Council (GCC), particularly the FSA Oman. “Through this collaboration, we aim to enhance knowledge exchange, promote each market’s unique investment proposition, and ultimately drive sustainable growth across both conventional and Islamic capital markets,” his excellency said. “Together, we are building a partnership that benefits our markets, investors, and economies,” his excellency said.

The two-year collaboration will focus on joint capacity-building initiatives, knowledge exchange, and the promotion of Malaysia and the Sultanate of Oman as attractive investment destinations. Key areas of cooperation include the joint promotion of Malaysian and Omani investment opportunities to investors in both countries; exploring the feasibility of a mutual recognition agreement between the SC and FSA Oman to support cross or dual listings of products and companies; implementing joint development programmes such as staff secondments and training initiatives; and sharing knowledge on capital market research, policy frameworks, and development strategies.

The SC also held engagements with key stakeholders in Oman this week to showcase Malaysia as an attractive destination for economic collaboration and cross-border investment opportunities. Discussions highlighted the role of Islamic capital markets in enabling greater cross-border funding flows and new opportunities in areas such as wealth management and family offices.

As of 2024, the Muscat Stock Exchange’s market capitalisation reached 66.97% of GDP, highlighting its growing weight in the national economy. Issuances rose by 131.25% year-on-year, while funds raised represented 2.7% of non-oil GDP. Trading activity also expanded, with daily volumes up 11% and 26% of companies actively traded.

As of June 2025, Bursa Malaysia recorded 855 Shariah-compliant securities, representing 80.58% of total listed securities. These span key sectors such as industrial products and services, consumer products and services, technology and property.