Capital Market Authority orders probe against four stock companies in Oman

Muscat: Capital Market Authority (CMA) has referred four companies operating in securities, namely Global Financial Investment, Al Madina Investment, Horizons Capital Market and Al Maha Financial Services to Investigation and Law Enforcement Department for lack of compliance to the Capital Market Law and its executive regulation as well as non-compliance of instructions related to credit facilities provided to their customers.
CMA has urged all companies operating in securities, which have brokerage licence, to settle the outstanding payments for their customers no later than June 30, 2016. The financial facilities should be provided within the framework of the marginal finance whose regulations were recently amended to ensure easy implementation and soundness of the financial cover for activities of these companies.
The Investigation and Law Enforcement Department at CMA will investigate the cases and submit its recommendations as per the provision of the Capital Market Law and its executive regulation.