Muscat, Oman Chamber of Commerce and

Industry (OCCI) organized its first Ramadan Nights entitled “The World

Financial Markets and its Impact on the Muscat Securities Market”

under the patronage of Sultan bin Salim Al-Habsi, Deputy Chairman of

the Board of Governors of the Central Bank of Oman.

Dr. Salah Abdul Rahman, an economist and financial marketer at

the Muscat Securities Market, presented a working paper on the

performance of the international financial markets and their impact on

the MSM. He presented the performance of the global economy and its

impact on the financial markets and the emergence of a range of

phenomena. Regarding the performance of the Muscat Securities

Market, he showed that the index witnessed a decline in 2017 and

2018 by 11.08 percent and 15.21 percent respectively, while trading

volumes declined by 23 percent in 2018 compared to 2017.

He explained in his paper that the main factor of the negative

movement of the index was due to the decline in the prices of shares of

banking, telecom, cement, construction and energy companies’


For his part, Ahmed bin Saleh al Marhoon, Director General of

Muscat Securities Market said, The market needs large companies

with high capital, where there is a large liquidity to attract investors and

speculators. There are also other factors for the decline of the market,

including oil prices and credit evaluation of the Sultanate, in addition to

the tax imposed on foreign investor, which had a negative impact

compared to the size of the return.

On his turn, Mustafa bin Ahmed Salman, CEO of United Securities

said that there are opportunities in the stock market to turn to growth

and good financial performance through cooperation between the

competent authorities, pointing out that the reforms and solutions

required to restore confidence in the Muscat Securities Market should

come as one integrated package and cannot be treated individually.

Source: Oman News Agency

News Reporter