The rally displays the success of the Oman Funding Authority’s (OIA) capital market reforms and IPO technique, which have strengthened liquidity, diversified listings and strengthened investor confidence.
Based on OIA, annual buying and selling quantity has surged fivefold, from OR645m ($1.67bn) in 2021 to greater than OR3.25bn ($8.44bn) within the first ten months of 2025.
In the meantime, market capitalisation has grown by 51 per cent, rising from OR20.24bn ($52.45bn) in 2020 to OR30.53bn ($79.16bn) in October 2025.
This efficiency displays OIA’s success in remodeling MSX right into a regional funding hub aligned with Oman Imaginative and prescient 2040 — a nationwide agenda that positions the capital market as a key driver of sustainable financial progress.
Royal Decree and structural transformation
The surge follows Royal Decree No. 5/2021, which transformed the previous Muscat Securities Market right into a Closed Omani Joint Inventory Firm wholly owned by OIA.
This pivotal transfer allowed direct interventions — from liquidity injections and IPO launches to institutional market-making — that unlocked document buying and selling exercise and revived investor confidence.
Mulham bin Basheer Al Jarf, Chairman for Investments at OIA, mentioned: “Since its inception, OIA aimed to show MSX right into a high-performing, investor-friendly alternate and a key funding enabler for the Omani economic system.
“To attain this, we adopted a phased plan, beginning with reinforcing belief, enhancing liquidity, and broadening possession, and ending with constructing a versatile and efficient institutional system that applies world finest practices and aligns with Oman Imaginative and prescient 2040 objective of a diversified and sustainable economic system.”
Market outperforms world indices
Aown Abbas Al Bahrani, Chief Funding Officer – Public Markets at OIA, mentioned MSX had grown 67 per cent since 2022, with a mean annual enhance of 14.6 per cent, outperforming main world indices together with the S&P 500 and MSCI GCC, world, rising and Chinese language markets.
He added that this progress “displays a transparent imaginative and prescient to boost market liquidity, diversify the investor base, and develop itemizing alternatives, enabling MSX to ship returns that surpass regional and worldwide benchmarks and strengthen its place as a number one funding vacation spot each regionally and regionally.”
IPO wave powers document listings
Since 2022, OIA’s IPO programme has reworked the market with a string of landmark listings:
- Pearl REIF, Oman’s largest real-estate fund, raised OR35m ($90.7m)
- Abraj Power Companies, listed in March 2023, raised OR94m ($243.6m) — the most important IPO since 2010
- OQ Fuel Networks (OQGN) launched in October 2023, marking Oman’s largest-ever IPO with complete demand exceeding OR4bn ($10.37bn) towards an providing quantity of OR288m ($747m)
- OQ Exploration & Manufacturing (OQEP) listed in October 2024 with gross demand surpassing OR780m ($2.02bn) and subscription proceeds of OR961m ($2.49bn)
- OQ Enterprise & Industrial (OQBI) debuted in December 2024, elevating OR188m ($487m)
- ASYAD Transport, listed in March 2025, raised OR128m ($331.8m) and launched Oman’s maritime sector to the MSX for the primary time
Every IPO attracted strong investor demand, with OQGN’s providing alone drawing anchor traders resembling Fluxys Belgium, a Public Funding Fund of Saudi Arabia-owned agency, and a Qatar Funding Authority-owned agency — signalling rising international institutional confidence in Oman’s capital market.
Oman liquidity fund
To maintain momentum, OIA launched the Tanmia Liquidity Fund in Might 2024 with an preliminary OR50m ($129.6m), later doubling to OR100m ($259.2m) in March 2025 and reaching OR150m ($388.8m) by August 2025.
The fund, a joint funding between OIA and the Social Safety Fund, is managed by Tanmia, United Securities LLC, and Ubhar Capital. It goals to boost buying and selling stability, coordinate institutional traders, and help long-term market depth, reinforcing confidence and lowering volatility.
Haitham Al Salmi, CEO of the Muscat Inventory Alternate, mentioned OIA’s reforms had reworked MSX efficiency, introducing new institutional mechanisms that improved transparency, pricing high quality, and market effectivity.
He added that activating the market maker’s function and the participation of liquidity suppliers had stabilised costs and narrowed bid-ask spreads, “enhancing investor confidence and positioning MSX for sustained progress.”
Al Salmi famous that these efforts have resulted in “rising buying and selling volumes, greater market capitalisation, and a broader base of native and worldwide traders, affirming MSX’s place as a key driver of funding and financial progress in Oman.”
Collaborative ecosystem driving outcomes
OIA’s success was bolstered by coordinated efforts from the Monetary Companies Authority (FSA), the Social Safety Fund, Tanmia, United Securities, Ubhar Capital, and native brokerage companies, all contributing to deeper liquidity and wider investor participation.
Help from Ahli Financial institution and the Nationwide Program for Fiscal Sustainability and Monetary Sector Growth (Estidamah) additionally helped allow listings with clear sustainability and financial worth, consistent with Oman Imaginative and prescient 2040.
Oman’s capital market enters new progress part
Since 2021, MSX has advanced into one of many area’s most dynamic monetary platforms, with document buying and selling volumes and double market capitalisation.
Oman’s capital market transformation underscores OIA’s function in changing challenges into alternatives and empowering residents as energetic companions in nationwide asset possession.
As OIA’s technique continues to unfold, the Muscat Inventory Alternate stands as a platform of alternative and a catalyst for improvement, strengthening its function in driving sustainable financial progress and positioning Oman as a regional funding powerhouse.
