Muscat Securities Market (MSM)

MSM okays 35 Sharia compliant firms

Muscat Securities Market (MSM) adopted a list of Sharia compliant companies for the second quarter of 2017. The list of companies includes 35 public shareholding companies: Al Saffa Food, Al Anwar Ceramic Tiles, Al Izz Islamic Bank, Al Jazeera Services, Al Kamil Power, Al Madina Takaful, Al Maha Ceramics, Bank Nizwa, Computer Stationery Industry, Dhofar Beverages and Food Stuff, Gulf International Chemicals, Gulf Mushrooms Products, Gulf Quarries, Majan Glass, Muscat Gases, Muscat Thread Mills, National Biscuit Industries, National Real Estate Development, Oman Cables Industry, Oman Cement, Oman Fisheries, Oman Flour Mills, Oman International Marketing, Oman Packaging, Oman Refreshments, Omani Telecommunications, Ooredoo, Port Services Corporation, Raysut Cement, Salalah Port Services, Shell Oman Marketing, Takaful Oman Insurance, United Power, and Voltamp Energy. The list is reviewed every three months by adding standards-compliant companies and eliminating those that lost their eligibility.

Corporates in Oman poised to float sukuk

Oman’s corporate sector is anticipated to come out with sukuk or Islamic bond issues to carry out their funding requirements, once the market watchdog Capital Market Authority (CMA) issues regulations.
Ahmed bin Saleh Al Marhoon, director-general of the Muscat Securities Market (MSM), stated that Al Madina Real Estate Company had approached CMA for floating sukuk last year, but because of the fact that sukuk was not permitted at that time, they didn't get the acceptance.

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