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Merge 104.8 | 30 October 2025
The Oman Investment Authority (OIA) has successfully revitalized the Muscat Stock Exchange (MSX) through a series of integrated reforms aimed at boosting listings, liquidity, and investor confidence—part of Oman Vision 2040 to diversify and strengthen the national economy.
Since Royal Decree No. 5/2021, which turned MSX into a closed joint-stock company under OIA ownership, the exchange has seen record growth:
Trading volume surged from OMR 645 million in 2021 to OMR 3.25 billion in the first ten months of 2025.
Market capitalization rose 51%, reaching OMR 30.53 billion by October 2025.
The MSX index surpassed 5,000 points for the first time in nearly eight years.
OIA’s strategies—liquidity injections, IPO programs, and institutional trading platforms—have transformed MSX into one of the region’s most dynamic markets.
Pearl REIF (2022): Oman’s largest real estate fund, raised OMR 35 million.
Abraj Energy Services (2023): Raised OMR 94 million, the largest IPO since 2010.
OQGN (2023): Oman’s largest-ever IPO at the time, raising OMR 288 million with OMR 4 billion in demand.
OQEP (2024): Raised OMR 961 million, marking the first listing from the oil exploration sector.
OQBI (2024): Raised OMR 188 million, expanding industrial sector listings.
ASYAD Shipping (2025): Raised OMR 128 million, introducing the logistics sector to MSX.
To maintain momentum, OIA launched the Tanmia Liquidity Fund (initially OMR 50 million, now OMR 150 million) in partnership with the Social Protection Fund, Tanmia, United Securities, and Ubhar Capital to stabilize trading and attract institutional investors.
Since 2022, MSX has grown 67%, outperforming major global indices like the S&P 500 and MSCI GCC, while attracting both local and international investors.
This progress reflects collaboration among OIA, the Financial Services Authority, Estidamah, and financial institutions such as Ahli Bank, creating a strong, transparent, and diversified market environment.
MSX has evolved into a key driver of Oman’s investment and economic growth, symbolizing national progress toward a sustainable, diversified economy. Its transformation demonstrates OIA’s success in turning strategic vision into measurable economic results — positioning MSX as a regional financial hub and a platform of opportunity for Omani citizens and investors alike.
