Meeting focuses on Moroccan experience in green sustainable financing

Business Sunday 20/March/2022 15:14 PM
By: Times News Service
Meeting focuses on Moroccan experience in green sustainable financing

Muscat: An official meeting was held between the Capital Market Authority (CMA), the Moroccan Capital Market Authority and several related entities in Oman to discuss ways of cooperation and exchange of expertise in the field of green and sustainable financing.

It also focused on the Moroccan experience in regulating green financing products as green and sustainable financing is a vital matter to achieve the objects of sustainable development, Oman Vision  20401, and striking balance between the economic objects, natural resources and environmental requirements to preserve the sustainability of the vital resources and enhancing their proceeds financially and socially for the longest possible term.

The meeting was attended by many related entities in the Sultanate such as Oman Investment Authority, Ministry of Finance, Environment Authority, Civil Aviation Authority and Oman Tourism Development Company (Omran).

The meeting reviewed the Moroccan experience and acquainted with the key legislative and technical areas for such financing products besides the discussion of the economic feasibility of offering green bonds and Sukuk, as well as the key requirements and needs to launch such products in the Omani capital market to ensure the readiness of the legislative infrastructure.

It is worth to note the meeting precedes the green and sustainable financing seminar on the Moroccan experience in green and sustainable financing scheduled to be held on Monday at the Oman Chamber of Commerce and Industry to be attended by many governments and private sector entities.

The Moroccan Capital Market Authority will present a working paper on the regulatory frameworks for the regulation of green financing and to highlight the market and its contribution in directing the investments toward the economic activities that strike balance between the economic, environmental and social objects to improve the welfare of human being and to limit the impact of climate change.