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Capital Markets Authority (CMA) Chairman, Yahya bin Said Al Jabri, announced last month the appointment of members to the board of the OCCGS. The OCCGS was set up at the end of July by Royal Decree 30/2015 with the remit to build the infrastructure, skills and value system to transform corporate behaviours and performance in Oman. The OCCGS’s main areas of focus are to develop codes and standards; foster awareness and advocacy; build capacity through training and certification programmes and provide support and research to companies.

The OCCGS replaces the CMA’s internal centre for corporate governance set up in 2010. Although the OCCGS is a separate legal entity enjoying financial and administrative autonomy and a much-expanded remit, it remains under the close statutory oversight of the market regulator. The OCCGS board is chaired by CMA head, Abdallah Al Salmi, and its members are appointed by the CMA’s board of directors to which it refers its recommendations.

In addition to the chairman, the first board of OCCGS is composed as follows:-

Executive Director – Abdulghani Dawood Al Zadjali, Central Bank of Oman;
Mohammed Taqi Al Jamalani, Oman Chamber of Commerce and Industry;
Dr. Said Mubarak Al Mahrami, Sultan Qaboos University;
Rashaad Mohammed Al Zubair, Zubair Enterprises,
Talal Said Al Mamari, Oman Telecommunication Company;
Isam Saud Al Zadjali, Oman Oil Company;
Walid Khamis Al Hashar, Bank Muscat.

For more information on corporate governance or Oman’s capital markets, contact Mansoor Malik or Ardeshir Patel.