Al Jabri named chairman of Oman's bourse watchdog

Oman's stock market watchdog, the Capital Market Authority (CMA), has appointed Yahya bin Said Al Jabri as its chairman, the Muscat Securities Market website said on Monday.

The website did not elaborate but a CMA spokesman said Al Jabri, who in the past was president of the watchdog, had returned to replace Commerce and Industry Minister Ali bin Masoud al Sunaidy as chairman.

The spokesman did not give a reason for the change, but said Al Jabri would simultaneously keep his post as chairman of the Special Economic Zone Authority at Duqm, a key industrial and trade hub under development.

A major current focus of the CMA is introducing Islamic finance into Oman. Both the CMA and the central bank have been drawing up a regulatory framework for the industry which is expected to be announced in coming months.

Abdullah Salem Al Salmi remains executive president of the CMA.