Oman, despite having a nascent capital markets system, was quick to introduce a corporate governance code for companies listed on the stock market in 2002. Oman was also quick to recognize that a binding code of corporate governance was crucial for modern, efficient and accountable public companies and to safeguard shareholders' interests.
Pursuant to recent amendments to the Commercial Companies Law, the founders or shareholders of a public joint stock company may adopt a nominal share price for the company's issued shares at less than OR1 per share. This change aims to increase market liquidity and facilitate greater capital market activity and growth. The amendments also adjust the caps on directors' remuneration.