MCD launches ‘Oman Stocks’ app for investors

Muscat: Muscat Clearing and Deposit Company, in partnership with the Muscat Stock Exchange, launched the “Oman Stocks” application in its first phase, in a step that is the first of its kind in the Sultanate of Oman.

Which will allow stock investors to obtain the services provided by the company and the stock exchange from one place, and will also allow parents who have an investor number to open an account for their children.

In the first stage, the application provides services for opening a new investor account for Omanis, residents of the Sultanate of Oman, non-resident and legal investors, non-resident foreign investors, and minors who have not reached the legal age.

The application also provides the feature of updating investor data for those previously registered with the company. The “Oman Stocks” application is now available on both Android and iOS systems, which everyone can download and start using.

Mohammed bin Saeed Al Abri, CEO of Muscat Clearing and Depository Company, said that the “Oman Stocks” application represents a qualitative leap in the field of stock investment in the Sultanate of Oman. It represents the first reference for investors’ dealings in stocks. It also represents the basis on which investment is based. He added in a statement to the Oman News Agency that the first step is to open a new investor account. Taking into account that all steps – whether opening an account or any other service – are simplified and smooth to facilitate its use by everyone. The company is also working with the Muscat Stock Exchange to add many services and data of interest to the investor, which we hope to complete during the coming period, such as the service of attending general assembly meetings, viewing trading reports and distributed profits, buying and selling shares without the need to deal directly with brokers, and many others.

Omaima Bint Salem Al-Maashari, Head of the Shareholders Department at the Muscat Clearing and Depository Company and Supervisor, explained that the idea of ​​the application came in partnership with the Muscat Stock Exchange to keep pace with the steady growth and increasing demand for applications with the aim of encouraging investment in the Muscat Stock Exchange and being present with all groups inside and outside the Sultanate of Oman with ease without the need To appear in person at the company’s headquarters to clear the transactions, verify the data, and then obtain the investor number in a record and short time.

She indicated in a statement to the Oman News Agency that the “Oman Shares” application is linked with the Mala’a Center of the Central Bank of Oman, which allows verifying the investor’s bank data without the need to fill in the data manually, explaining that cooperation with the Mala’a Center will contribute to reducing errors in the process of entering bank data.

This step also facilitates the receipt of profits to those entitled to them by using the correct investor data. Muscat Clearing and Depository Company called on all those wishing to invest in the Muscat Stock Exchange to quickly obtain a new investor number or update data. To ensure that everyone has equal investment opportunities, Android and iOS users can download the application from the store and proceed to opening an account or updating data. These services are also available through the company’s website.