BUSINESS REPORTER
MUSCAT, MARCH 20
An official meeting was held on Sunday between the Capital Market Authority (CMA), the Moroccan Capital Market Authority and a number of stakeholder entities in the Sultanate of Oman to discuss ways of cooperation and exchange of expertise in the field of green and sustainable financing.
Morocco has wide experience in regulating green financing products, which are an important source of green and sustainable financing to help achieve the goals of sustainable development as set out in Oman Vision 2040. Green financing also helps strike a balance in the sustainable use of resources, while ensuring equitable social returns for lengthy periods.
Represented at the meeting were officials of Oman Investment Authority, Ministry of Finance, Environment Authority, Civil Aviation Authority and Oman Tourism Development Company (Omran).
The meeting reviewed the Moroccan experience in green financing, legislative frameworks, types of green financing products, the economic feasibility of offering green bonds and Sukuk, and the required legislation to launch such products in the Omani capital market.
A public seminar on Moroccan experience in green and sustainable financing will be held on Monday at the Oman Chamber of Commerce and Industry for the benefit of local government and private sector entities.
The Moroccan Capital Market Authority will present a working paper on the regulatory frameworks for the regulation of green financing and to highlight the market and its contribution in directing the investments towards the economic activities that strike balance between the economic, environmental and social objects to improve the welfare of human being and to limit the impact of climate change.