Capital Market experts gathered for the second GCMA Oman Debt Capital Markets Conference
MUSCAT, April 23, 2018 – The Gulf Capital Market Association (GCMA), in partnership with Maisarah Islamic Banking – BankDhofar and Al Busaidy, Mansoor Jamal & Co held its second Oman Debt Capital Markets Conference at the Grand Millennium in Muscat, Sultanate of Oman on April 18, 2018. The invitation-only conference gathered 100 industry leaders and senior government officials.
The half-day event kicked off with a keynote address by His Excellency Sheikh Abdullah Al-Salmi, Executive President of the Capital Market Authority of the Sultanate of Oman. His Excellency said, “a vibrant fixed income market is an integral part of the overall strategy of the CMA, to enable the capital market to play its vital role as an alternative fundraising platform for both the government and corporates and to act as the engine for continuous economic development of Oman.”
Sohail Niazi, Chief Executive of Maisarah Islamic Banking, BankDhofar gave an Oman perspective on capital markets and economic development in which he stated, “as Oman moves forward with its economic development plan, the debt and equity capital markets are well positioned to provide the necessary support and infrastructure to private and public sectors to continue robust growth and meet their economic objectives.” Samra Al-Harthy, Acting Senior Manager of Economic Research at State General Reserve Fund, Ministry of Finance provided a comprehensive overview of the economic outlook of Oman and region that included the impact of rising US interest rates and recent developments in the oil and gas markets.
An expert panel session moderated by Sadaf Buchanan, Partner at Dentons explored the financing options available to Oman companies in which speakers agreed that capital market funding would play an increased role. Asad Qayyum, Senior Associate at law firm Al Busaidy, Mansoor Jamal & Co. led a lively discussion of how issuance of securities backed by distinct revenue streams can offer a useful financing tool for companies and projects in Oman.
This conference was part of GCMA’s ongoing efforts to promote and enhance the Gulf region’s capital markets.
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The Gulf Capital Market Association
The Gulf Capital Market Association (GCMA) is the regional trade association representing the Arabian Gulf bond and sukuk market. GCMA’s initiatives bring together leaders of the regional credit markets to create a collective and effective voice on the key issues affecting the industry. Member firms are leading banks, investment banks, issuers, investors, asset managers, law firms, rating agencies and service providers.
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