CMA organises workshop at Ministry of Civil Service

Business Wednesday 03/July/2019 16:32 PM
By: Times News Service
CMA organises workshop at Ministry of Civil Service

Muscat: The Capital Market Authority (CMA) has organised a workshop in collaboration with the Ministry of Civil Service on the capital market and its economic importance.
At the event there was a wide participation by the employees of the ministry to acquaint them with the capital market and insurance sector and their role in the economic development in the country.
The workshop is part of the training and awareness workshops organised by CMA to introduce to the public the role of the capital market in the economic development plans and programmes and the mission of CMA as supervisor and regulator of the capital market and insurance sector highlighting their role in achieving economic growth and wealth creation.
The workshop included three working papers. Majed Ahmed Al Abri, employee at the Media and External Relations Department talked about the process of the capital market and CMA’s role in regulating the sector pointing out to the legislative infrastructure which started with the separation between the regulatory and executive roles by transferring the regulation of the public joint stock companies to CMA, hence CMA issued the laws and regulations for investor protection and to boost confidence in the market for easy influx of local and foreign funds to move the wheel of the national economy.
The second paper on the capital market as mover of the economy presented by Jamila Al Hamhami who talked about the funding mechanisms provided by the market and the trading operations in the stock market.
She elaborated on the economic benefits from the securities market such as expanding the activities of the private sector through the growth of capital which reflects positively on the their services and productive operations with the accompanying employment opportunities and socioeconomic benefits.
The third paper on the protection tools used by CMA to protect the investors was presented by Mohammed Al Zadjali, employee at the Inspection and Examination Department.
He said the general meeting is the supreme authority in the company and the regulations cover the shareholder’s right in obtaining information.
He added the disclosure the transparency rules are a tool ensuring such rights which is deemed an essential element in investment decision making. Al Zadjali talked about the prospectus and the importance of reading it prior to entering the market adding that investment awareness and its mechanisms are considered risk management tools.
It is noteworthy that CMA had previously organised a similar workshop at the College of Banking and Financial Studies attended by 100 students from the private colleges and universities accompanied by an exhibition with the participation of Muscat Securities Market, Muscat Clearing and Depository Company and the Omani Securities Association.