The Oman Investment Authority (OIA) hosted a workshop on the Capital Market Incentive Programme (CPIM), delivered by the Financial Services Authority (FSA) and Muscat Stock Exchange (MSX), with the aim of introducing the CPIM, its incentives, and the pathways available to companies to leverage the capital market to finance growth and expansion. The workshop was attended by H.E. Mulham bin Bashir Al Jarf, Deputy President for Investment at the Oman Investment Authority, and H.E. Munir bin Ali Al Muniri, Deputy President for Operations at the Oman Investment Authority.

The workshop aimed to familiarize the Authority and its affiliated funds with the program and the pathways available to companies based on their level of readiness and stage of growth, while also fostering dialogue on the opportunities and challenges associated with listing and accessing capital market instruments.

The workshop featured three presentations delivered by the CPIM team at the Financial Services Authority. The presentations covered the listing journey, its various stages and procedures, as well as the pathways available to companies seeking to enter the capital market. The Financial Services Authority explained that the program offers multiple pathways tailored to companies with varying levels of readiness, ranging from listing on the Primary Market and the Alternative Investment Market to transitioning into a closed joint-stock company as a step toward a future listing. This enables each company to select the pathway that best aligns with its stage of growth and shareholders’ aspirations.

The CPIM comprises a range of pathways aimed at developing the market and enhancing its attractiveness to investors and companies by supporting new listings, encouraging investor participation, expanding the range of investment products and instruments, and improving market infrastructure, governance, and transparency. These pathways form part of broader efforts to develop the capital market and create a more competitive environment that contributes to diversifying sources of financing, supporting corporate growth, and strengthening the role of the capital market in the national economy.

The FSA noted that, over the past period, the programme has progressed from the awareness and outreach stage toward developing actual listing opportunities, with companies demonstrating varying levels of readiness and interest. The FSA highlighted several challenges identified through this experience, including differences in companies’ levels of readiness, the need to continue developing incentives, and certain concerns related to governance and disclosure requirements.

The workshop also discussed the program’s next phase, which will focus on supporting companies throughout the listing process and beyond through capacity building, guidance and advisory support, the provision of guidelines and templates, and the necessary assistance at various stages.

The workshop also included a discussion session during which participants shared their views, aspirations, and the challenges facing companies. The session explored areas for further development to enhance the attractiveness of the capital market as a financing option that supports corporate growth and sustainability