Chairpersons,

Chief Executive Officers/General Managers,

Auditors,

Public Joint Stock Companies

Investment Funds

Insurance Companies and Brokers

The Companies Operating in the Field of Securities

After Compliments,

Subject: Electronic Disclosure using XBRL

The Capital Market Authority is always endeavouring to upgrade the capital market and insurance sector in Oman; by enhancing the levels of disclosure and transparency in the MSM by adopting the relevant best international practices or enhancing and updating the legislations and laws or through betterment and advancement of the electronic systems. We are delighted to inform you of the commencement of implementation of electronic disclosure system using 'Extensible Business Reporting Language' (XBRL) which is one of the key strategic projects of the CMA scheduled for implementation this year.

The project aims to provide the companies and investors the ability to conduct audit and analysis of information in efficient electronic way. XRBL transforms financial statements and data using IFRS Taxonomies and codes which are then readable by humans as well as machines (computers) enabling easier access to the information therein and comparison of its contents.