Latest news with #FinancialServicesAuthority
Zawya
3 days ago
- Health
- Zawya
Oman: FSA prepares for second phase of Dhamani platform
Muscat: In preparation for launching the second phase of the National Health Insurance Platform 'Dhamani' scheme, the Financial Services Authority organized a preparatory meeting with insurance companies and representatives of private healthcare institutions to arrange for implementing the second phase of the 'Dhamani' electronic platform. The second phase includes readying the 'Dhamani' electronic platform to exchange medical documents such as x-rays, prescriptions and medical referrals between private healthcare institutions and insurance companies on the one hand and between all hospitals, complexes, clinics and specialized health centers on the other hand. The two-day meeting was organized within the framework of the community participation adopted by the FSA while developing regulatory schemes. The meeting reviewed the nature of the components of the phase with the relevant parties to find out mechanisms for dealing with them, in addition to discussing the key challenges expected in the implementation and how to address them. This phase is considered important within the framework of launching the 'Dhamani' electronic platform as it progresses the platform towards broader services such as building a unified medical record for the insured that allow access to all the details of visits to any health institution linked to the platform. The national health insurance platform 'Dhamani' also adds value in organizing health insurance transactions in the Sultanate of Oman by linking operational and financial transactions between insurance companies, private healthcare institutions; health insurance claims administrators and regulators including government entities supervising the insurance market and private healthcare institutions. It is worth noting that the platform proved its efficiency and digital effectiveness during the operational period, as the number of health insurance transactions concluded through the platform reached more than 4 million transactions until the end of May 2025. All insurance institutions were linked to this platform in addition to the connection of all private hospitals licensed by the Ministry of Health, which are 33 hospitals. While the number of health complexes linked to the platform has reached 37 private health complexes so far, 20 clinics and 44 health centers. The platform also provides its services to more than 650,000 health insurance policyholders with a data and information exchange rate of up to 40,000 transactions per day. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Business Times
6 days ago
- Business
- Business Times
Indonesia bourse mulls extending trading window by one hour
[JAKARTA] Indonesia's stock exchange will consider extending trading hours, in its latest effort to draw foreign investors to South-east Asia's biggest economy after heavy sell-offs earlier this year. The local bourse could start trade at 8.00 am to appeal to Asian investors in earlier time zones, or end later at 5.00 pm to better reach European traders, Iman Rachman, president director of Indonesia Stock Exchange (IDX), said on Thursday (Jun 12). Extending timings on both ends is also being considered as part of an internal review that may conclude in three months, he said. The Indonesian stock market currently operates in a seven-hour window of 9.00 am to 4.00 pm. Extended trading hours may help boost trading volumes and allow investors to respond to global events in real time. The consideration comes amid concerns over foreign outflows from local stocks and rising global uncertainties, and as investors debate the sustainability of a recent rebound in local equities. The stock market entered into a technical bear market earlier this year before bouncing back in the current quarter. A series of routs prompted the IDX to defer the rollout of short-selling in stocks until September. The exchange aims to implement short-selling in the fourth quarter, provided it gets a nod from the Financial Services Authority, Rachman said. It also plans to introduce 'liquidity providers' to improve the market's depth and create fair value for stocks, with 13 firms registering for the role, he said. Overseas investors have pulled a net US$2.9 billion from Indonesian equities so far this year – the biggest withdrawal across South-east Asia in the period, according to data compiled by Bloomberg. Caution is rising over the nation's economic outlook as recent trade and manufacturing data suggest momentum remains lacklustre. Other points from the interview:
Al Etihad
10-06-2025
- Business
- Al Etihad
ADGM FSRA implements amendments to its digital asset regulatory framework
10 June 2025 14:56 ABU DHABI (WAM)The Financial Services Authority (FSRA) of Abu Dhabi Global Market (ADGM) on Tuesday announced the implementation of amendments to its regulatory framework for digital assets, with immediate implementation of these amendments follows extensive industry engagement and feedback received on Consultation Paper No. 11 of focus of the implemented amendments is on revisions to the process whereby Virtual Assets (VAs) are accepted for use as Accepted Virtual Assets (AVAs) in ADGM, alongside appropriate capital requirements and fees for Authorised Persons conducting Regulated Activities in relation to VAs (VA Firms).The amendments also introduce a specific product intervention power in relation to VAs, as well as enshrining rules that confirm our existing approach to the prohibition of using privacy tokens and algorithmic stablecoins within the amendments expand the scope of investments in which Venture Capital Funds may FSRA has updated the Guidance – Regulation of Virtual Asset Activities in ADGM to reflect the implemented measures and to provide further guidance to VA Firms in relation to applying the AVA assessment Executive Officer of ADGM's FSRA, Emmanuel Givanakis, said, "The implementation of these changes marks a significant milestone in the evolution of the FSRA's framework for digital asset regulation. Through extensive consultation with industry stakeholders, we have further enhanced our framework to provide the regulatory certainty that industry participants need, while addressing the evolving risks of the digital asset ecosystem.""We believe this further positions ADGM as a premier jurisdiction for digital asset-related activities and shows our commitment to fostering responsible innovation in financial services." The FSRA acknowledges the constructive and well-received feedback received in response to the Consultation Paper, including in relation to the discussion points raised.
Zawya
10-06-2025
- Business
- Zawya
Insurers' total investment in Oman drops to $1,748mln
Muscat: Total investments by insurance companies in Oman amounted to approximately RO673.1mn by the end of 2024, compared to around RO838.6mn at the end of 2023, recording a sharp decline of nearly 20%. Data issued by the Financial Services Authority (FSA) indicated that investments by national insurance companies during 2024 stood at approximately RO427.24mn, while investments by foreign insurance companies totalled RO245.86mn, according to an Oman News Agency report. The financial data showed that national insurance companies' investments were primarily concentrated in bank deposits across general insurance, life insurance, and savings insurance categories in both 2023 and 2024. Investment in bank deposits accounted for 51.4% in 2024, up from 40.5% in 2023. In contrast, the total investment by national insurance companies in all other investment vehicles combined did not exceed 48.6% in 2024 and 59.5% in 2023. As for foreign insurance companies, their investments also focused on bank deposits (general, life, and savings), representing 65% in 2024, compared to 65.2% in 2023. Investments in government bonds reached 26% in 2024, up from 24.8% in 2023. The combined percentage of foreign companies' investments in other asset classes did not exceed 9% in 2024 and 10% in 2023. Statistics issued by the Financial Services Authority revealed that the total return on insurance companies' investments in 2024 fell by 30.1% to just over RO34mn, including RO21.975mn in returns fir national companies and RO12.071mn for foreign companies. Regarding investment returns by category, returns from real estate increased by 35%, while returns on bank deposits for general and health insurance rose by 17.8%. In contrast, returns on life and savings insurance deposits declined by 22.6%, and returns on government bonds fell by 9.1% between 2023 and 2024. Investment returns on stocks listed on the Muscat Stock Exchange decreased by approximately 84.2%. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
09-06-2025
- Business
- Muscat Daily
Insurers' total investment in Oman drops to RO673mn
Muscat – Total investments by insurance companies in Oman amounted to approximately RO673.1mn by the end of 2024, compared to around RO838.6mn at the end of 2023, recording a sharp decline of nearly 20%. Data issued by the Financial Services Authority (FSA) indicated that investments by national insurance companies during 2024 stood at approximately RO427.24mn, while investments by foreign insurance companies totalled RO245.86mn, according to an Oman News Agency report. The financial data showed that national insurance companies' investments were primarily concentrated in bank deposits across general insurance, life insurance, and savings insurance categories in both 2023 and 2024. Investment in bank deposits accounted for 51.4% in 2024, up from 40.5% in 2023. In contrast, the total investment by national insurance companies in all other investment vehicles combined did not exceed 48.6% in 2024 and 59.5% in 2023. As for foreign insurance companies, their investments also focused on bank deposits (general, life, and savings), representing 65% in 2024, compared to 65.2% in 2023. Investments in government bonds reached 26% in 2024, up from 24.8% in 2023. The combined percentage of foreign companies' investments in other asset classes did not exceed 9% in 2024 and 10% in 2023. Statistics issued by the Financial Services Authority revealed that the total return on insurance companies' investments in 2024 fell by 30.1% to just over RO34mn, including RO21.975mn in returns fir national companies and RO12.071mn for foreign companies. Regarding investment returns by category, returns from real estate increased by 35%, while returns on bank deposits for general and health insurance rose by 17.8%. In contrast, returns on life and savings insurance deposits declined by 22.6%, and returns on government bonds fell by 9.1% between 2023 and 2024. Investment returns on stocks listed on the Muscat Stock Exchange decreased by approximately 84.2%.
