New Corporate governance Code in Oman

Oman’s Capital Markets Authority published a Code of Corporate Governance for Publicly Held Joint Stock Companies in July 2015 (‘the New Code’), which is due to come into force on 22 July 2016. The new code will replace the 2010 Code of Corporate Governance for Public Listed Companies. As well as amending various rules in the Old Code, principles contained in the New Code expand on the role of the Board in relation to corporate governance and contain an example Code of Professional Conduct. All Boards of Muscat Securities Market listed companies are required to draft their own internal Code of Professional Conduct which should be adhered to at all times.