New Market Launch: Unlocking Fresh Investment Pathways for Business Growth in Oman
MUSCAT, NOVEMBER 3, 2025 — The Sultanate of Oman, represented by the Muscat Stock Exchange (MSX), officially launched its first Alternative Investment Market today under the patronage of His Highness Sayyid Bilarab bin Haitham al Said.
This milestone initiative is a collaboration between the National Programme for Fiscal Sustainability and Financial Sector Development (Estidamah) and several key government bodies, including the Ministry of Commerce, Industry and Investment Promotion, the Financial Services Authority, the Small and Medium Enterprises Development Authority, and Muscat Clearing & Depository Company.
The newly established market aims to unlock financing and investment opportunities for private-sector companies, particularly small and medium-sized enterprises (SMEs) and family-owned businesses seeking expansion.
Haitham bin Salem al Salmi, CEO of MSX, described the launch as a “defining moment in Oman’s capital market journey.” He emphasized, “This market reflects our confidence in the potential of high-growth Omani companies and underscores our commitment to facilitating their growth. With flexible listing models and investor-friendly mechanisms, the platform will diversify funding sources, enhance governance standards, and support promising firms in progressing toward future public listings.”
He added, “The Alternative Investment Market will attract investment while ensuring that ambitious Omani companies are well positioned to scale regionally and globally, in line with Oman Vision 2040 priorities of diversification, transparency, and private-sector empowerment.”
The launch follows Royal directives issued in May 2024 that activated a capital-market incentive programme designed to broaden access to finance and support private-sector growth. This programme aligns with Oman Vision 2040’s objectives to boost competitiveness and foster a more diversified, sustainable economy.
Officials highlighted that the incentive framework includes three distinct tracks:
- Encouraging large private firms to convert into public joint-stock companies and list on the main market.
- The Alternative Investment Market, tailored to support SMEs and family-owned businesses with simplified listing requirements and offering tax, marketing, and operational incentives to help companies grow, improve governance, and increase transparency.
- Facilitating companies’ transition into closed joint-stock structures as a preparatory step toward future public listings.
As part of the initial phase, Bawarq Nizwa International Investment has been listed directly on the market. Meanwhile, Nafath Renewable Energy, Mays Cars, and Oman Pesticides & Air Fresheners Company are preparing for indirect listings through offerings to qualified investors.
Examples of companies transitioning through the third track include Saud Bahwan Holding, Al Rawas Holding, the Ibn Firnas Drone Centre, and a local computer-stationery manufacturing firm. The programme will roll out over five years from the activation of each track, allowing a phased deepening of the market to build investor confidence.
Mahmoud bin Abdullah al Owaini, Secretary-General of the Ministry of Finance and supervisor of the Estidamah programme, stated, “This initiative is part of a clear strategy to enhance the competitiveness of Oman’s financial sector and broaden capital access for ambitious Omani enterprises. We anticipate the platform will elevate governance, transparency, and sustainable SME growth.”
Abdullah bin Salem al Salmi, Executive President of the Financial Services Authority, described the launch as a “transformational step” in strengthening Oman’s business environment. He noted, “The Alternative Investment Market will open new financing channels and accelerate the readiness of national companies for public markets. Our regulatory framework will balance innovation with market integrity and investor protection.”
Mohammed bin Saeed al Abri, CEO of Muscat Clearing & Depository Company, confirmed technological upgrades in support of the initiative. “We are proud to contribute to this milestone by delivering robust systems for listing, registration, clearing, and settlement. Our integrated support services will enable emerging companies to scale and position themselves for long-term success,” he said.
This launch marks a significant advancement in Oman’s capital market ecosystem, fostering private-sector empowerment and economic diversification in line with Oman Vision 2040.
Special Analysis by Omanet | Navigate Oman’s Market
The launch of Oman’s first Alternative Investment Market marks a strategic leap in unlocking growth capital for SMEs and family-owned businesses, providing flexible listing models and investor-friendly incentives to foster transparency and governance. For businesses, this creates significant opportunities to access diversified funding, scale regionally, and prepare for future public listings aligned with Oman Vision 2040. Smart investors and entrepreneurs should now focus on leveraging this platform to pioneer growth sectors, enhance corporate governance, and capitalize on government-backed incentives for sustainable expansion.
