The Capital Market Authority (CMA) said it would not extend the deadline for insurers to comply with regulations that require local companies to list on the Muscat Securities Market (MSM) and double their share capital. The capital market and insurance sector watchdog had issued the new guidelines in mid-2014, which require companies to double their share capital to OMR10mn from OMR5mn, and making it compulsory for them to list on the bourse. The CMA had given a three-year window for companies to comply with the new laws and that comes to an end in July next year. Only four of the 22 insurers operating in Oman are currently listed on the MSM. As many as 11 firms are branches of foreign insurance companies and have been exempted from listing on MSM for the time being. However, due to adverse market conditions, none of the unlisted local insurance firms have announced IPO plans. This had led to speculation that the regulator might look at extending the time-frame for mandatory listing. (Muscat Daily)