Oman Added to FTSE Russell Watch List for Potential Reclassification to Secondary Emerging Market Status

MUSCAT, Oman--(BUSINESS WIRE)--Oman has been added to the FTSE Russell Watch List for potential reclassification to Secondary Emerging Market status, marking a significant milestone in the Sultanate’s capital market development and integration with global markets.

The decision follows a multi-year institutional transformation programme led by Muscat Stock Exchange (MSX) under the umbrella of the Oman Investment Authority (OIA) and the supervision of the National Programme for Financial Sustainability and Development of the Financial Sector (Estidamah), in collaboration with the Oman Investment Authority (OIA), the Social Protection Fund (SPF), the Financial Services Authority (FSA), Muscat Clearing and Depository Company (MCD), and brokerage firms in Oman, to enhance market accessibility, develop market infrastructure, deepen liquidity and broaden the investable securities universe.

In April 2026, FTSE Russell confirmed that Oman met all nine market-quality criteria required for Secondary Emerging Market status. It has now confirmed that Oman also meets the minimum investable market capitalisation and securities count requirements, based on June 2026 data.

Over the past five years, key reforms include omnibus securities accounts, enhanced custodian participation, SWIFT-enabled settlement and custody communications, extended trading hours, securities lending and borrowing, and covered short selling. These measures complement efforts to expand the investable securities universe, deepen liquidity and strengthen institutional participation.

Mohammed Alardhi, Chairman of MSX, said: “Oman’s inclusion on the Watch List is an important international recognition of the progress achieved in developing the Sultanate’s capital market and reflects the collective efforts to build a stronger, more globally connected market. This milestone reaffirms the important role capital markets can play in supporting Oman Vision 2040 by mobilising investment, supporting private-sector growth and connecting investment opportunities in Oman with regional and global capital.”

Haitham Salim Al Salmi, CEO of MSX, said: “Oman’s inclusion on the Watch List represents a significant milestone, but it is certainly not the end of the journey. Our focus remains on building a deeper, more liquid, accessible and investable market that meets the evolving requirements of domestic and international investors. We will continue to deepen liquidity, broaden the investable securities universe, attract high-quality listings, and further develop market infrastructure.”

Oman remains classified as a Frontier Market. FTSE Russell will reassess its eligibility based on December 2026 data, with an update scheduled for publication 6 April 2027.

*Source: AETOSWire