Sunday 17 / November / 2024
Muscat: Oman Investment Authority (OIA) has announced the allocation of OMR100 million to support Muscat Stock Exchange (MSX) through a “liquidity fund” initiative launched by the OIA in cooperation with the National Programme for Financial Sustainability and Financial Sector Development.
Aoun Abbas Al Bahrani, Director General of Public Market Investments at the OIA, said that the Liquidity Fund initiative, launched by OIA in cooperation with the National Programme for Financial Sustainability and Financial Sector Development last week, is a portfolio worth OMR100 million aimed to support the market maker and liquidity provider in MSX.
He added that the Liquidity Fund portfolio will constitute a percentage of the daily trading volume on the stock exchange—considering the activity of investors and their interaction with economic news and the disclosure of listed companies.
Al Bahrani told Oman News Agency (ONA) that the initiative is a financial instrument that enables the OIA to participate in a percentage of the daily trading at MSX. He affirmed OIA’s keenness to cooperate with companies that will work in market making and attracting new investments and liquidity to MSX.
The initiative emerges as an embodiment of priorities of Oman Vision 2040. It comes in pursuance of initiatives aimed at expanding MSX, realising sustainability in the stock market, enhancing its attractiveness to investors and augmenting client confidence therein. This will reflect positively on increasing trading volumes and attracting new companies.
