A landing stock to emerging markets. Today ' s completion is an extension of years ' efforts

Fayez bin Abdullah Al Balushi ** FTSE Russell’s announcement represents the inclusion of the Muscat Stock Exchange on the watch list in preparation for its possible promotion to the secondary emerging markets category, Fayez bin Abdullah Al Balushi ** FTSE Russell’s announcement represents the inclusion of the Muscat Stock Exchange on the watch list in preparation for its possible promotion to the secondary emerging markets category, an important station in the development process of the Omani capital market. For those who have lived through this process in its various stages, this declaration has special importance that goes beyond mere international classification. This entitlement was not the result of recent years, but was preceded by efforts, studies and initiatives that spanned years, involving many specialists and institutions, with the aim of raising the Omani market to more advanced levels. The story began with the Muscat Securities Market (formerly); The requirements for improving the market classification were present within the studies and discussions related to developing the market, diagnosing challenges and gaps, and searching for the necessary solutions to enhance its efficiency and attractiveness to the investor.

In the subsequent stages and the accompanying institutional transformation, and with the launch of the National Program for Financial Sustainability and Financial Sector Development “Estidama,” the scope of work expanded to include developing the financial sector system to a more comprehensive national perspective, through diagnosing challenges, formulating initiatives and policies, and developing a road map for development in integration with the institutions concerned. My professional experience has allowed me to be part of these stages, and to work with colleagues and national experts to study and discuss a number of challenges and solutions, and to lead a group of initiatives aimed at developing the capital market. It is nice today to see that many issues that were discussed on the work tables years ago have become development priorities, and the results of accumulated institutional efforts have begun to materialize on the ground.

There is no doubt that the lofty interest of His Majesty Sultan Haitham bin Tariq the Great - may God protect and preserve him - in developing the financial sector and enhancing the role of the capital market within the objectives of Oman Vision 2040, has formed an important foundation for advancing the development process and translating strategic directions into practical programs and initiatives. What we are witnessing today confirms that the development of markets is not the result of a single decision or initiative, but rather the result of the accumulation of knowledge and experiences, continuity of work, integration of roles, and the ability to transform visions and studies into reality. We must praise the complementary role of the parties that contributed to this process, most notably the Financial Services Authority, the Oman Investment Authority, the Ministry of Finance, the National Program for Financial Sustainability and Financial Sector Development “Estidama,” and the Muscat Clearing and Depository Company, along with market institutions and workers. And everyone who contributed to building and developing this system over the years.