Muscat:The Muscat Stock Exchange (MSX) hosted a media briefing to celebrate Oman’s inclusion in the FTSE Russell watch list. This move is seen as a milestone in the transformation of the stock exchange, opening up new opportunities for dialogue about its future role in bolstering the national economy.
According to Oman News Agency, Haitham bin Salim Al Salmi, CEO of MSX, highlighted that Oman’s inclusion will attract a wide range of investors linked to global indices. These indices use specific market classifications that guide investment strategies, thus enabling investors to channel their funds into markets recognized by these classifications.
Al Salmi elaborated that Oman's entry onto the watch list will provide global investors with insights into the Muscat Stock Exchange and the broader Omani market. It will facilitate access to market information, trading procedures, and the necessary steps to open investment accounts, as well as identifying accredited brokers for executing investment transactions.
He noted that post-upgrade, Oman is expected to be included in emerging market indices, which could direct significant investment flows towards the country. This integration into the GCC markets is considered an advantage for attracting foreign investments.
Projections estimate that Oman could see investment inflows of around RO 175 million, with some reports suggesting amounts between USD300 million and USD400 million. These investments are anticipated to bolster daily trading values on the Muscat Stock Exchange.
Al Salmi emphasized the current focus on enhancing trading platforms linked to local brokerage firms, which serve mainly individual investors. He noted that foreign investors could also access the market through these platforms and financial technology solutions.
The inclusion in global indices is expected to increase the number of investors and the overall value of investments, either through rising share prices or improved liquidity levels. This development will also provide local investors with new financial instruments and opportunities alongside foreign investors.
Ahmed bin Ali Al Maamari, Vice Executive President of the Financial Services Authority, praised the collaborative efforts of the government and private sector in advancing Oman’s capital market. He affirmed that these efforts have led to significant progress, as evidenced by international assessments and the inclusion of MSX on the FTSE Russell watch list.
Al Maamari stressed the need to build on these achievements to enhance the market's appeal to both local and foreign investors, supporting sustainable development projects. He also highlighted the importance of managing risks associated with external investment flows and leveraging global experiences to further develop Oman’s financial markets.