Oman Credit and Financial Information Center (Mala’a) is a partner in the launch of digital platforms for Remote Trading in the Omani capital market

As part of a national initiative to simplify and promote investment in the Omani capital market, and in collaboration with the Financial Services Authority (FSA), Muscat Stock Exchange (MSX), and Istidamah Program, Mala’a is proud to support the launch of four new Remote Trading Platforms for licensed brokerage firms. These platforms, owned by Ubhar Capital, Financial Services Company SAOG, Jabal Asset Management, and Vision Securities LLC, are now integrated with Mala’a’s database through Huwiya (E-Know Your Customer) service. This collaboration enables comprehensive electronic verification of users’ data, enhancing security, reducing potential risks, and stimulating investment in the Omani Capital Market, thereby contributing to the sustainable economic growth of Oman.

His Excellency Sheikh Abdullah bin Salem Al-Salmi, CEO of the Financial Services Authority, emphasized that the launch of these platforms marks a significant milestone, as it will provide individuals and institutions of varying investment sizes with seamless access to the services and procedures needed to enter the world of investment in the Omani capital market through an integrated platform. This initiative is set to attract investments and effectively stimulate trading activity.

On her part, Manahil Jaffar, Acting General Manager of Mala’a, expressed her pleasure with the partnership, stating, “This collaboration is a key part of the center’s commitment to offering cutting-edge digital solutions in the financial and credit sectors. Huwiya service enables our members to carry out comprehensive electronic verification of customer data, bolstering security and reducing potential risks.”

Oman Credit and Financial Information Centre (Mala’a) was established in 2019 under Royal Decree No. 38/2019, offering credit reporting services and innovative credit solutions. The center plays a crucial role in building an integrated national financial system in Oman. The center’s goal is to create a comprehensive database of credit and financial information across the Sultanate, allowing financial institutions to make informed credit decisions based on accurate and reliable data. This advanced system enables members to assess clients’ financial capacity more effectively, contributing to better loan quality and reduced financial risks. The center also plays a key role in reducing default rates, enhancing financial stability, and supporting economic growth in Oman.