Business | Investment
Investment stability fund to boost liquidity in Omani markets
The Capital Market Authority (CMA) has issued a licence for the establishment of an investment stability fund in response to a request by the Omani government.
- Staff Report
- Published: 23:30 December 16, 2008
Muscat: The Capital Market Authority (CMA) has issued a licence for the establishment of an investment stability fund in response to a request by the Omani government.
Maqbool Bin Ali Sultan, Minister of Commerce and Industry, said the licence to establish the fund came in bid to restore confidence to the investment environment.
This would be through policies that the fund would adopt to ensure continuous success of the securities market as an important instrument of the financial sector.
He said that the 150 million Omani riyal (Dh1,431 million) fund will have 60 per cent government holdings (90 million riyals), while the remaining 40 per cent (60 million riyals) will be distributed to pension funds and the private sector, represented by banks, investment companies and the companies operating in securities.
About the nature of the fund and its objectives, the minister said "the fund is an open end investment fund with indefinite term that would contribute to restoring confidence in the local market in view of the global financial situation".
"The fund also aims at boosting liquidity and investment professionalism in the market."
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