Issues pertaining to the development of the capital market and the banking sector were discussed by the State Council Office yesterday.

The State Council Office held its 7th meeting of the second annual sitting of the sixth term under the chairmanship of Dr. Yahya bin Mahfoudh Al Mantheri, Chairman of the State Council. 

The State Council’s economic committee’s study on ‘Developing Capital Market and Banking Sector’ was discussed during the meeting.

It hosted Salam bin Said Al Shaqsi, deputy head of the economic committee and Dr Said bin Mubarak Al Mahrami, rapporteur of the committee.

The Chairman of the State Council hailed the efforts made to prepare the study that aims at evaluating the status of the banking sector and Muscat Securities Market and highlighting the challenges facing the banking sector and the capital market.

The deputy head and rapporteur of the committee reviewed the reasons for the study and the measures taken to prepare it including hosting banking and capital market experts. The Office approved the study and decided to refer it to public session for discussion.

The Office also discussed the draft regularisation and protection of the aflaj sites listed on the World Heritage List, which was referred from the Council of Ministers.

It also discussed the report of the culture, media and tourism committee and decided to refer it to the State Council’s general session.

It also reviewed the draft GCC Trade Markets Law (system) which was referred from the Council of Ministers and the report of the economic committee on it and decided to refer it to the State Council’s general session for discussion.

Source: Timesofoman