FEAS Yearbook FEAS Yearbook 2022 | Page 90

Muscat Clearing and Depository

About Company

Established: 01.02.1999

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

- Joined FEAS in 2019-

Mohammed Said ALAbri

Chief Executive Officer

The Federation of Euro-Asian Stock Exchanges

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During the year 2022, the company achieved significant growth rates in its profits compared to 2021, as a result of the company's continued development of its services through the use of modern technology, since it used an electronic platform to manage companies' associations and manage modern subscriptions electronically and pursued to develop the mechanisms and methods of transferring profits and interests to issuers through the company's accounts, as well as the development of the company's services via its website, in addition to reducing and rationalizing spending according to the approved estimated budget for the year 2022.

- The company's revenues raised to (5) million and (100) thousand Omani Rials, with an increase of (6.9%) over the previous year, and the net profits recorded significant growth rates of (1) million and (921) thousand Omani Rials compared to (1) million and (514) thousand Omani Rials for the previous year, with an increase of (27%). The profits achieved for the year 2022 are considered exceptional profits compared to the prevailing circumstances and the profit rates recorded in the company since its establishment in 1999. After Covid crisis has ended mostly, we have been doing very well and we face no major challenges.

The company managed to achieve excellent performance rates, which was positively reflected in the total revenues and the realized profit rates for the year. This is due to the fact that the company benefited from the completion of the infrastructure of programs and systems that enabled it to keep pace with and adapt to these emergency and difficult circumstances, during which the company achieved exceptional performance rates by all standards with high flexibility where MCD:

•Developed its website by providing many services through it, as this made it easier for companies and issuers of securities listed on the Muscat Stock Exchange, and shareholders to request services in addition to collecting the fees for these services directly via the electronic payment for the performance of these services.

•Continuous development of internal programmes used in accounting and human resources at the company.

•Developed the digital platform for the management of associations-AGMs- for the issuers, which contributed to supporting the efforts exerted by the company to improve the services provided in this platform from the beginning of the application of the management of the association through the platform.

•Activating the account with the "Euro Clear Foundation" which is an institution specialized in assets servicing, settlement and funds management around the world.

Year in review