Muscat Clearing and Depository
Haitham Salim Al Salmi
General Manager (CEO)
1 - Services provided to the Capital Market Authority; as the monitoring authority of issuers of securities listed in the Muscat Securities Market
Provide with reports on dealings and dealers in the Market. Assist in monitoring of dealings made by directors of joint stock companies. Contribute to the development of monitoring operations over dealings in listed securities with the Market and the Depository company. Contribute to the development and enhancement of confidentiality in investment in Omani securities that are listed in the Muscat Securities Market
2 - Services provided to Muscat Securities Market and its dealers:
Ensure conveyance of ownership amongst the dealers as per prevailing regulations of the Muscat Securities Market. Control foreign investment operations and its percentage in a single company, so as to be in compliance with the prevailing regulations of the companies and the governing laws. Control the percentages of investors’ ownership. Contribute to the transparency operations through providing data and the analytical statistics. Facilitate collection of information, statistics and reports over securities.
3 - Services Provided to Investors:
Registering new investors (issuance of investor’s number for each investor). Allotment of unique number to each investor in the securities. Updating investors’ data. Providing investors with statements of their holdings and statements of their dealings in securities. Family Transfers within (first degree). The inheritance Transfers. Transfers of dividing common property securities. Trustee transfers of securities. Transfers between accounts that belong to the same person. Responding to investors’ queries about their holdings that are registered with the company, as well as their investments affairs such as:
Distribution of cash and shares dividends – merger of companies – liquidation of companies … etc,.
Providing a unified centre to enter joint stock companies registers that are listed in the Muscat Securities Market, for the easiness of tracing by the investors of their investments in the Market from a single point.
4-Services Provided by the Company to the Companies issuing Securities
To act as a central depository of records of the investors of shares and bonds, in a technical and practical manner, that reduces the number of incidences of errors and incompatibility incurred by sections of investors. To control percentage of ownership, as per the charters of the companies and the relevant laws.
Facilitate execution of decisions as approved by the joint stock companies in its general assemblies
Services provided
Muscat Clearing & Depository Co. (MCD), the central securities depository as well as the clearinghouse for Muscat Securities Market (MSM).
Being an important part of the financial market infrastructure (FMI), we work under an intensely regulated environment, where our compliance goes beyond the local regulations. To be in sync with the changing industry practices, we have constantly worked with international advisors. In our endeavor to keep pace with international best practices, we have opted for membership of several international associations such as African & Middle East Depository Association (AMEDA), the Arab Federation of Exchanges (AFE) and Association of National Numbering Agencies (ANNA).
Technology plays a major role in our business. Hence, our focus in upgrading technology is a never-ending process. We have adopted new state of art Universal Central Securities Depositories system (UCSD) in 2014, which enables us to provide value added services to all stakeholders. This includes our major focus on comprehensive risk management."
Federation of Euro-Asian Stock Exchanges
94