Clearance and Settlement Regulation Pertaining to the Transfer of Repos Amended: Capital Market Authority of Oman

Oman’s Capital Market Authority (CMA) has replaced Article 44 pertaining to the transfer of Repurchases Agreements (Repos) by amending specified provisions of the Clearance and Settlement Regulation, local media reported.

According to the media report, the transfer of title to government bonds, treasury notes, Sukuk, or any other products accepted by the Central Bank of Oman (CBO) is limited to and from the accounts of commercial banks and their respective Islamic banks, or Islamic windows with the account of the CBO that is involved in the Repo transaction.

According to the CMA, the Article was amended in line with regional and global regulations, in order to lower the fees to enhance trading processes amongst banks, which would result in improved liquidity to...