Muscat: The Sultanate's market watch-dog Capital Market Authority (CMA) is in an advanced stage to develop a small and medium enterprises (SME) capital market and exchange model for Oman.
The model is being developed in conjunction with some of the most successful SME markets in the world, and in coordination with the Ministry of Commerce and Industry and the Public Authority for SME Development, said a press release issued by CMA here.
"The objective of the exchange will be to support the development of SMEs across a wide range of growth enablers, to provide fair and attractive returns to investors and market participants, and to provide clients and suppliers of SMEs with better access to and information on the opportunities of doing business with SMEs," said the press release.
The CMA has undertaken a detailed assessment of various approaches used by capital markets and exchanges in the area of SMEs.
"This has included an assessment of the relative impact and benefits of these approaches on the overall development of SMEs, returns to investors and market participants, and benefits to clients and suppliers of SMEs," added the press release.
SMEs are an important source of new job and new wealth creation, and have the potential to make a significant contribution to the Oman economy.
The growth rate and level of success of SMEs can be improved and strengthened with support in a number of areas.
The CMA will conduct a consultation and review process with interested parties in the second quarter of 2014, and following consultation feedback expects to finalise plans in the summer of 2014, for immediate start of build and implementation thereafter.