Muscat – February 2026: In a strategic step toward deeper integration with the global financial ecosystem, Muscat Clearing and Depository Company (MCD) has launched the SWIFT service as a unified, secure, and internationally recognized financial messaging channel. The initiative is aimed to enhance operational efficiency, strengthening security standards, reducing operational risks, and enabling the seamless exchange of data and information with relevant stakeholders in line with global best practices.

The SWIFT service operates exclusively as a secure carrier of financial messages, and does not involve the holding of funds or the management of accounts. Its activation is limited to the secure and confidential transmission of standardized messages between the depository and market participants, as well as between the depository and financial institutions. By ensuring data integrity, confidentiality, and operational resilience, SWIFT represents a core component of modern financial market infrastructure.

The launch of SWIFT forms part of the MCD’s five-year strategy (2024–2028), which focuses on automating financial transactions, standardizing operational practices, reducing operating costs, mitigating risks associated with manual processes, and minimizing human error in day-to-day operations.

The implementation of SWIFT will be carried out in a phased manner, aligned with MCD’s digital transformation roadmap: initially, Phase 1 – Manual flows (U2A), scheduled for implementation by Q2 2026, enabling users to initiate and receive SWIFT messages through secure user interfaces; subsequently, Phase 2 – Automation flows (A2A), planned for year-end 2026, delivering full end-to-end automation and straight-through processing between systems.

CEO Statement

 

Commenting on the launch, Mohamed bin Said Al Abri, Chief Executive Officer of MCD, stated:
“Since the commencement of the company’s current five-year plan, we have worked closely with the Board of Directors and in collaboration with all employees to support the Muscat Stock Exchange (MSX) in its plan to upgrade to emerging market status, while contributing to national economic diversification in line with Oman Vision 2040. Key milestones in this journey have included the development of the state-of-the-art central depository system, the strengthening of regulatory frameworks, and the adoption of advanced solutions aligned with international standards. The launch of the SWIFT service is a strategic outcome of these efforts.

Reaching foreign investors and global markets requires a robust, reliable, and scalable infrastructure capable of delivering sustainable solutions for all stakeholders. The SWIFT service provides secure, practical, and efficient operational solutions across the full spectrum of services offered by the depository to all parties, including individual investors. It is also capable of handling high transaction volumes of while ensuring secure connectivity and timely notifications. We look forward to establishing connectivity will be established with local financial institutions and our international partners, subject to the readiness of their systems”.

Al Abri added:

“All participants who are ready to establish connectivity with MCD through SWIFT may directly coordinate with MCD to initiate testing and finalize the SWIFT connection.”

The SWIFT service provides MCD with direct access to the local and international financial community without the need to establish and maintain multiple bilateral connections. This includes connectivity with central banks, settlement banks, clearing houses, custodians, central securities depositories, and international infrastructures such as Euroclear. This service offers highly secure and flexible connectivity capable of supporting increasing transaction volume and facilitating foreign investment through MSX.

Through SWIFT, MCD will support a comprehensive set of standardized financial messaging functions across key business areas, including trade settlement and clearing, pre-settlement and post-settlement notifications, cash and securities movement confirmations, and reconciliation and reporting. The service will also enable investor and issuer-related communications, such as corporate actions processing, general meeting (AGM/EGM) announcements and voting, and other issuer services. In addition, SWIFT will facilitate securities financing activities, including securities lending and borrowing, along with other depository and post-trade market services, in line with international market practices.

At the current stage, the launch of SWIFT enables connectivity with participating market entities, such as custodians, settlement banks, the Central Bank, and other stakeholders, subject to the readiness of their systems. In addition, SWIFT will serve as a critical backup communication channel in the event of core system disruptions, thereby reducing operational risks.

It is worth noting that Muscat Clearing and Depository Company has recently announced an upgrade to its central depository system. This upgrade supports the integration of advanced global technology solutions, including SWIFT, and their alignment with internationally adopted standards. These developments contribute to improved market assessments, enhanced investor confidence and the advancement of the MSX toward emerging market status.

About Muscat Clearing and Depository Company

Muscat Clearing and Depository Company (S.A.O.C.) is a closed joint-stock Omani company established under Royal Decree No. (82/98) issued on November 25, 1998, and commenced operations on February 1, 1999. The company’s paid-up capital amounts to five million Omani rials. It is licensed and supervised by the Financial Services Authority. It is owned by the Oman Investment Authority (OIA), through Muscat Stock Exchange (S.A.O.C.) holding 89.32% of its capital, while brokerage and investment companies holding the remaining 10.68%.

Honoring the Legacy of Mr. Maher Zouari as He Concludes His Tenure

As Mr. Maher Zouari prepares to conclude his distinguished tenure, we take this moment to celebrate a career that has profoundly shaped Tunisia’s financial sector and strengthened the wider AMEDA community.

With more than 30 years of dedicated service, Mr. Zouari has been a driving force in advancing financial market infrastructure, regulation, and innovation. His leadership has been marked by vision, resilience, and a deep commitment to progress.

A Career of Service and Impact

Mr. Zouari began his career at the Ministry of Finance in Tunisia, where he dedicated nearly two decades to developing legislation, supervising financial institutions, and guiding major reforms in banking, capital markets, and venture capital. His contributions during this period laid the groundwork for stronger, more resilient financial markets in Tunisia.
In 2009, he became Chief Executive Officer of Tunisie Clearing, where his leadership transformed the institution into a modern, globally recognized central securities depository. Under his guidance, Tunisie Clearing achieved operational excellence, embraced technological innovation, diversified its services, and established a robust risk management framework.

Leadership Beyond Borders

Beyond Tunisia, Mr. Zouari’s influence has reached regional and international platforms. He secured Tunisie Clearing’s membership in leading financial associations, advanced cross-border cooperation, and positioned the institution as a benchmark for efficiency and innovation. His efforts also extended to supporting African markets through advisory and technological initiatives.

A Legacy of Dedication

Throughout his career, Mr. Zouari has been more than a leader, he has been a mentor, a reformer, and a visionary. His legacy will endure through the institutions he strengthened, the reforms he championed, and the countless professionals he inspired.

As he leaves office, we extend our deepest gratitude for his tireless service and invaluable contributions. You have continued to add great value to the AMEDA organization, assisting members, and generously sharing knowledge and expertise, contributions that are sincerely acknowledged and deeply appreciated. The AMEDA community, along with Tunisia’s financial sector, will continue to benefit from the foundations he built and the standards of excellence he set.

We wish Mr. Maher Zouari every success in the next chapter of his journey.

Muscat Clearing & Depository Launches the “MCD Rulebook” to Strengthen Regulatory Framework

Muscat – September 2025: In a strategic move to bolster confidence in its operations and services, as well as to support the broader development of Oman’s capital market, Muscat Clearing & Depository SAOG (MCD) has officially announced the approval and implementation of its Internal Regulatory Rulebook. The “MCD Rulebook” governs all of MCD’s business activities and services provided to investors and stakeholders of the Muscat Stock Exchange (MSX), in accordance with Royal Decree No. 82/98 establishing MCD, and the regulatory framework set by the Financial Services Authority (FSA).

The Rulebook serves as a comprehensive legal reference for all MCD’s operations. It clearly defines the rights, obligations, and responsibilities of both MCD by promoting transparency and consistency across the capital market ecosystem. This initiative addresses key requirements previously raised by rating agencies and foreign investors, and thereby strengthening legal certainty and promoting fairness within Oman’s capital market.

Developed in collaboration with a leading international consultancy specialized in clearing and settlement services, the Rulebook reflects international best practices and adheres to Royal Decree No. 46/2022 (Securities Law). It also forms a core component of MCD’s Five-Year Strategy (2024–2028) and supports the national objectives outlined in Oman Vision 2040.

The “MCD Rulebook” includes general provisions governing services, operational workflows, roles and responsibilities, dispute resolution, liability, and indemnification. It also sets out detailed criteria for MCD membership, the use of the Central Securities Depository (CSD) system, securities account management, record-keeping of the central registry, pledges and liens, collateral management, and enforcement mechanisms. In addition, it provides a detailed guide to all clearing, settlement, depository, and corporate action services, as well as the recently launched Securities Lending and Borrowing (SLB) framework.

Mohammed Al Abri, CEO of MCD, stated: “MCD’s services have seen substantial advancement in recent years, particularly with the adoption of digital technologies and the introduction of new services that enhance market efficiency and attract foreign investment. The new Rulebook reinforces our commitment to transparency, professionalism, and effective communication with all stakeholders. For the first time, all relevant regulatory provisions are consolidated into a single, accessible document that will serve as the authoritative reference for our operations. We also encourage stakeholders and market participants to provide feedback through our official channels, helping us continuously enhance our services.”

The development of the “MCD Rulebook” involved extensive consultation with key stakeholders, including the FSA, Muscat Stock Exchange (MSX), Ministry of Finance, Central Bank of Oman, brokerage firms, custodians, listed companies, and investment institutions.

The “MCD Rulebook” is available in both Arabic and English on the company’s official website (www.mcd.om) and will undergo periodic review to incorporate new regulations, services, and market requirements. This initiative underscores MCD’s commitment to regulatory transparency, market resilience, and proactive stakeholder engagement in advancing Oman’s capital market.

About Muscat Clearing & Depository Company (MCD)

Muscat Clearing & Depository (SAOC) Company was established pursuant to Royal Decree no. 82 / 98 issued on November, 25, 1998, mandating the formation of an entity responsible for securities depository and registration. MCD commenced operations on February 1, 1999 as an Omani closed joint-stock company, majority- owned by Muscat Stock Exchange along with banks, investment institutions and brokerage companies.

To access the MCD Rulebook, kindly click the link here: https://www.mcd.om/cdn/files/RuleBook.pdf

Tunisie Clearing Publishes PFMI Disclosure Framework, Strengthening Market Transparency and Resilience

Tunisie Clearing is pleased to announce the publication of its PFMI Disclosure Framework on its official website TUNISIE CLEARING, a key milestone in reinforcing transparency and aligning with international standards in financial market infrastructure.

Following the CPSS-IOSCO Disclosure Framework and Assessment Methodology, Tunisie Clearing conducted a comprehensive self-assessment to evaluate its adherence to the Principles for Financial Market Infrastructures (PFMI). The results confirm that most of the principles applicable to Tunisie Clearing’s operations are sufficiently observed, reflecting its commitment to robust governance, risk management, and operational integrity.

This self-assessment serves a crucial purpose: to provide regulators, participants, market stakeholders, and the wider public with clear, meaningful insights into Tunisie Clearing’s obligations, procedures, and compliance with the PFMI. It also helps market participants better understand the risks and costs involved in using Tunisie Clearing’s services while supporting their due diligence processes through standardized and qualitative information.

Currently available in French, the disclosure framework is set to be released in English in the near future, ensuring broader accessibility for Tunisie Clearing’s international partners and stakeholders.

The PFMI Disclosure Framework can be accessed here – French Version: PFMI Disclosure Framework (PDF).

With this initiative, Tunisie Clearing reaffirms its dedication to transparency, international best practices, and continuous improvement, further strengthening the resilience and reliability of Tunisia’s financial market infrastructure.

Heartfelt Salute to a Remarkable Force Behind the Scenes

AMEDA bid a warm farewell to the outstanding Mrs. Samira Abouanass, Executive Assistant of MAROCLEAR, whose dedication and energy have left an indelible mark on AMEDA and the global CSD community.

With grace and precision, she played a key role in organizing over four standout AMEDA meetings and the unforgettable WFC2019 in Marrakech—a landmark event that brought together industry leaders from around the world. Her tireless efforts, positivity, and professionalism made every event seamless, impactful, and truly special.

Thank you, Mrs. Samira, for your unwavering support, your can-do spirit, and the countless ways you’ve elevated our community. You leave behind a legacy of excellence, collaboration, and genuine warmth.

Wishing you continued success and happiness in your next chapter — you will be truly missed

Head of Clearing and Settlement

Masego Pheto-Lentswe the seasoned financial expert, is the Head of Clearing and Settlement at the Central Securities Depository Company of Botswana (CSD), a subsidiary of the Botswana Stock Exchange. In this capacity, she oversees clearing and settlement operations, ensuring the secure custody of securities listed on the Exchange.

With a career spanning about 29 years, Pheto-Lentswe’s deep-rooted expertise and unwavering commitment to excellence have been instrumental in positioning Botswana as a leading financial hub within the region. Her tenure at the Botswana Stock Exchange, beginning in 2007, marked the commencement of her transformative journey in shaping the country’s capital markets. She also brings extensive experience from her previous roles at Stanbic Bank Botswana and the Bank of Botswana.

Ms. Pheto-Lentswe’s visionary leadership culminated in the successful implementation of a cutting-edge CSD system in 2022. This landmark achievement has significantly elevated the Botswana capital market’s efficiency, security, and global appeal, attracting international investors. Under her expert guidance, the CSD has scaled new heights, consistently exceeding expectations and setting industry benchmarks.

She holds advanced degrees in Economics from the University of Botswana and the University of Stellenbosch South Africa, coupled with her advanced professional qualifications, including  an Executive Development Program, an MA in Economics and a CIMA Diploma.