Friday 09 / May / 2025
Muscat: License has been issued for the foundation of 15 new Omani closed joint stock firms in 2020, with the total issued capitals reaching RO 20.369,588 million, according to the Ministry of Commerce, Industry and Investment Promotion (MoCIIP).
Khalid bin Khamis Al Masrouri, Director of the Audit and Control Department of Commercial Establishments at the Ministry of Commerce and Industry, said: "The number of closed Omani shareholding companies reached 395 until the end of last year."
He emphasized that 72 ordinary and extraordinary general meetings were held in 2020, while 210 annual meetings and a number of general meetings of some joint-stock companies were held via video communication during the pandemic, as Muscat Clearing and Depository Company, in cooperation with MoCIIP, has launched an electronic platform in accordance with the Ministerial decision No. (65/2020).
"The electronic platform provides the opportunity for a large number of shareholders to participate in the company’s annual general meetings, as well as saves time and effort for investors inside and abroad of the Sultanate, " he added.
He called on all the closed joint stock companies to register with Muscat Clearing and Depository Company, in order to utilize the benefit of the services provided by the electronic portal of the company.
