MCDC Launches New Service

Muscat, Muscat Clearing and Depository Company (MCDC) launched the electronic subscription service supported by providing electronic services and channels by the subscription banks operating in the Sultanate.

The new system was implemented by the French company Atos, which provides the main system for the MCDC. The system has been implemented on the joint stock companies that took part in the recent IPO of Musandam Power Company, which was recently listed on Muscat Securities Market (MSM).

Haitham bin Salim al-Salmi, MCDC General Manager explained that the first application of the system took place during the subscription of Meethaq Sukuk and it took into account the provision of some electronic platforms by the underwriting banks and the possibility of accepting the subscription applications according to the previously-applied traditional methods, in addition to preparing and encouraging shareholders to use the available electronic channels.

Source: Oman News Agency