Muscat Clearing & Depository (SAOC) Company has been established according to the Royal Decree no. 82/98 issued in November, 25, 1998 requiring the establishment of Muscat Depository, Securities Registration and define its terms of reference, in terms of actual operations began on February 1, 1999, It is an Omani closed joint – stock company and its issued capital (3 million OMR), Since MSM owns 60% of the company capital, investment as well as brokerage companies and the banks own 40%.
In fact the relation between MCD and The Capital Market Authority is governed by a concession allows the company to provide the following services:
- Providing custody for the records of shareholders in joint stock companies, investment funds, bondholders, bearers of any other securities – issued by the said companies – and the government as well as public authorities listed with Muscat Securities Market.
- Deposing, registering and providing a custody for shares as well as bonds selling /buying contracts and the other securities amongst shareholders and bearers of securities, and issue certificates of ownership transfer amongst the shareholders, and procedures of custody and lien securities , and submit them.
- Providing the concerned authorities with information on shareholders or bearers of securities.
- All about shareholders and bearers of securities.
- Any other activities approved by the Board.