that have impact on the investors.
Providing assistance in managing general assemblies, by counting quorums and counting votes on the election of the Board of Directors.
Printing invitations to general assemblies and printing all the posters and invitations pertaining to the shareholders. Provide companies with statements on its shareholders.
Distribute dividends on behalf of the companies.
Restrain promotion shares and introduce Board members, and restrain second installments’ shares. Besides all matters pertaining to the shareholders.
5 - Services Provided by the Company to the Brokers
Providing daily trading data for the broker.
Notification the broker with pending transactions, immediately upon implementation of the deal.
Amend the deals. Fragmentation of special orders.
Addressing outstanding deals. Notification the broker with transactions executed after the settlement of equity. Notification the broker with rejected transactions by custodian. Notification the broker with fines of pending deals. Notification the broker the obligations upon the settlement (settlement day). Notification the broker of completion settlement Cash and equity operations. Execute liens favouring brokers, based on decisions issued by concerned bodies.
6 - Services Provide by the Company to the Central Bank of Oman
Act as the central depository body of the records pertaining to the government bonds issued by the government of the Sultanate. Distribute interest on the bonds due to its holders as per the distribution dates. Distribute principal value of the redeemed issues. Provide the central bank with the data pertaining to the bonds. Provide the central bank with data on investors in the domestic banks listed on the company’s registers, to confirm compliance with the central bank’s laws and regulations.
Repurchase of the bond transfers (REPO).
7 - Services provided by the company to the banks and financing companies ‘lenders’
Executing and lifting pledges favouring banks and financing companies, as per the prevailing procedures, to ensure pledgees’ rights. Provide pledgees with necessary data and reports on shares pledged to them. Follow up receipt of pledgees of pledged cash and shares dividends as per pledge agreements. Electronic transfer of the dividends on pledged shares to banks accounts of the lenders.
8 - Services provided by the company to the Settlement Banks: Notification the settlement banks with net liabilities and receivables for each Member on the operations carried out in trading day (T) to the broker on the settlement. Notification the settlement banks with completion of cash settlement.
9 - Services provided by the company to the Custodians Convert GDRs (global depositary receipts). Securities transfers between custodians. Provide trading data for client of custodian. Provide a mechanism (confirm / reject) of securities for clients of the Custodian.
Print the assets of clients report at the end of the day.
10 - Company’s role in the execution of judgments issued by judicial and monitoring authorities
Execution of judgments and decisions issued by the judicial and monitoring authorities that are empowered with the authority to impose attachment pursuant to the Omani prevailing laws.
Major changes in 2019 include:
1. Issuance new Commercial Companies law last April 2019.
2. Freeze the application of tax on dividends on foreign investors for 3 years.
3. Creation of Tax Institution reports directly to ministries council to overtake the tax authority that was reporting to Ministry of Finance.
Expected in 2020:
1- Issuance of Executive Regulation to Commercial Companies Law related to Public Listed Companies.
2- Privatization of the Exchange to be commercial company owned by state sovereign fund.
Yearbook 2020
About Muscat Clearing and Depository S.A.O.C.
Established: 01.02.1999
Managing director: Haitham Salim AL Salimi
Address: Sultanate of Oman Muscat - Ruwi P.O.Box:952
PC:112
Contact person: Ahmed Suliman Al-Kindi
Contact email: [email protected]
Website: www.mcd.gov.om
The Grand Mosque of Oman, Muscat,
The Sultanate of Oman
FEAS Cities