Oman Introduces Omnibus Accounts for Capital Market Investors

Muscat Clearing & Depository SAOC (MCD) has introduced an omnibus accounts framework, allowing brokers, custodians and other eligible institutions to manage the holdings of multiple investors through a single account as part of efforts to strengthen Oman's capital market.

Under the new framework, omnibus accounts will be registered in the name of a licensed operator, such as a broker, custodian or other eligible institution, while the operator must maintain detailed records identifying each underlying investor. Operators are also required to establish internal systems for managing investor data and provide an electronic interface enabling MCD and the Financial Services Authority (FSA) to access investor information and transaction records when required.

According to the MCD Rulebook, operators must maintain accurate records, segregate client assets, preserve a complete audit trail for stock exchange transactions and comply with anti-money laundering and counter-terrorist financing regulations. Investors will also retain the right to transfer their holdings to an account in their own name or to another omnibus account managed by a different operator.

Commenting on the launch, MCD Chief Executive Officer Mohammed Said Al Abri said the framework is designed to facilitate international investment while maintaining strong compliance standards and shareholder protections, including legal safeguards to ensure investor assets remain identifiable and segregated in the event of an operator default or restructuring.

MCD said the initiative supports the objectives of Oman Vision 2040 and follows the adoption of the MCD Rulebook in 2025 as the company's legal framework for market operations. The company also confirmed that the T+2 settlement cycle will take effect on September 1st, 2026.