Global: Oman’s Financial Services Authority Unveils eIPO Platform to Enhance Securities Issuance and Market Transparency

As part of its digital transformation agenda, Oman’s Financial Services Authority (FSA) has launched the first phase of its electronic securities issuance system (eIPO), an initiative aimed at enhancing market liquidity, streamlining regulatory processes, and increasing investment attractiveness in the Omani capital market.

The eIPO platform is a comprehensive digital solution designed to regulate primary market issuance and listing processes, ensuring greater transparency, efficiency, and coordination between key stakeholders. The platform was developed in collaboration with the National Program for Financial Sustainability and Financial Sector Development (Estidama) and Muscat Clearing and Depository Company (MCD).

Advancing Regulatory Efficiency through Digitalization

According to the FSA, the eIPO system will significantly reduce the time and effort required for Initial Public Offering (IPO) procedures, ensuring a seamless flow of regulatory compliance and financial data across all relevant entities, including issuers, the Muscat Stock Exchange (MSX), MCD, issue managers, and legal advisors. The platform aligns with the capital market incentives programme, fostering institutional cooperation and improving the overall investment climate.

The phased implementation of the eIPO platform aims to:

• Digitize IPO approvals and reduce paper-based processes, expediting transaction times.
• Enhance compliance monitoring and regulatory oversight by providing real-time insights into securities issuance.
• Facilitate market accessibility by ensuring fair pricing mechanisms and investor protection measures.

Phased Implementation of eIPO

The first phase of the platform focuses on three key procedures, starting with the submission of securities issuance applications. This process involves:

• Collection and analysis of financial and legal data, ensuring compliance with regulatory requirements.
• Issuance of initial approvals, streamlining interactions between issuers and regulatory bodies.
• Guidance on capital market participation, reducing administrative burdens for new entrants.

Future phases of the eIPO rollout will include:

• The book-building stage, determining fair price ranges for securities in collaboration with issue managers and investors.
• The final listing stage, where securities will be officially traded on the Muscat Stock Exchange (MSX), boosting market liquidity and investor confidence.

Driving Digital Transformation in Oman’s Financial Sector

The FSA remains committed to advancing financial market digitalization, with over 93% of its services digitized as of 2024. The regulatory body has also made notable progress in the Digital Transformation Competence Index, achieving a score of 84% in 2024, up from 76% in 2023.

By integrating regulatory technology (RegTech) solutions such as the eIPO system, Oman is strengthening compliance automation, investor protection, and capital market growth, setting a benchmark for modernized financial regulation in the region.