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
Last year, the company achieved performance rates that exceeded expectations, which led to an increase in the total revenues achieved, as well as an increase in the percentage of actual profits for the year. This was only achieved by the combined efforts of the company’s employees and the support of the executive management, including:
By moving to provide most services electronically to those dealing with the Omani capital market sector, the company has been developing the services it provides to the sector through the use of the best modern electronic systems and programs, such as dividend management, the association management service, as well as the subscription management system for joint-stock companies and listed funds, with its records With the company.
- During the year 2023 , the company was able to achieve significant growth in its profits when compared to the year 2022, as a result of the company’s tendency to diversify sources of income by developing the services it currently provides, using the best modern technological means, as well as creating additional new services, such as the service of opening an account for the company with the Euro Clear Corporation. Global, as well as adding a new subscription service that serves brokers and banks as underwriting entities. On the other hand, the company sought to rationalize expenditures by providing financial allocations in some items in the estimated budget for the year 2023. The company’s revenues amounted to (6,652,910) Omani riyals compared to the revenues achieved in the year 2022, amounting to (5,018,461) million Omani riyals, i.e. an increase of (33%). The company continued to achieve significant growth rates in net realized profits, as profits after tax amounted to (2,376,698) Omani Riyals last year compared to (1,694,428) Omani Riyals for the same period in the year 2022 AD, i.e. an increase of (40%). These profits achieved for the year 2023 are considered very high rates when compared to the prevailing economic conditions. And a comparison with the profit rates achieved by the company since its establishment.
Launching the “Oman Stocks” application, which contributed positively to accelerating the process of opening accounts for investors and amending their data. The number of requests executed through the application reached more than 91,000 thousand requests, including requests for opening accounts and amending data without the need for their presence. In person, to the company's headquarters or its branch in Salalah, as this was reflected in the subscription procedures for OQ Gas Networks Company, the number of subscribers of which reached approximately 156 thousand subscribers.
Year in review
Yearbook 2023