Iranian Delegations Acquaints with Trading and Surveillance Operations of MSM

HE Sheikh Abdullah Salim Al Salmi, Executive President of the Capital Market Authority  received a high delegation from the Islamic Republic of Iran chaired by Dr. Sayyid Ahmed Ratchi,  member of the board of directors of the Securities and Exchange Commission and comprising members of the executive management of the Commission and representatives of the Depository.

The meeting was attended by the Director General of Muscat Securities Market, Director General of Muscat Clearing and Depository Company, a  number of directors generals of CMA, Executive Director of Oman Centre for Governance and Sustainability and a number of officials.

The visit comes in the framework of  the close relations between the two countries and to enhance the mutual cooperation and exchange of information and expertise between the regulators supervising the capital market.

The meeting reviewed the cooperation between the Omani and Iranian capital markets and reviewed the Omani experience in regulating the capital market and the phases of development of the market focusing on the mechanisms of regulating trading on the MSM and to acquaint with the  legislative and supervisory activities to ensure the soundness of the market’s operations in line with the advancement in technology to boost the confidence of the public and the participants.

The delegation was briefed on the methods of facilitating share and cash settlements in accordance with the applicable standards  in the MSM as well the custody and management of shareholders’ records of the companies listed on the market kept by the depository.

On the other side cooperation in the field of corporate governance was discussed as well as the services  rendered by Oman Centre for  Governance and Sustainability.

It is noteworthy that CMA has concluded a memorandum of understanding with the Securities and Exchange Commission of Iran in 2009 for the exchange of information and mutual cooperation between the two organizations to enhance investor protection and the soundness of stock markets.