The Competition Protection and Monopoly Prevention Centre (CMC) has announced the formation of the Board of Directors under the chairmanship of His Highness Dr Adham bin Turki al Said (pictured) and membership of Dr Dhafir Awadh al Shanfari, Dr Nasser Rashid al Mawali, Dr Rashid Hamed Humaid al Bulushi and Hayyan Ali Malallah al Lawati.
The Centre was established pursuant to the promulgation of Royal Decree 2/2018, to ensure the applying of Competition Protection and Monopoly Prevention Law issued by Royal Decree 67/2014 and amended by Royal Decree 22/2018.
The law aims to regulate the freedom of practicing any economic activities, stabilise the principles of the market rules and freedom of pricing in such manner that the same shall not restrict competition, prevent the same or to be negatively affected thereby to benefit consumers, businesses and the national economy.
The CMC Board is responsible to propose the general policy of the Centre and approve the regulations and decisions implementing the provisions of the laws that have been applied to the Centre.
Moreover, to propose draft laws on the protection of competition and the prevention of monopoly, approve the conclusion of agreements and memorandums entered by the Center with other countries regarding competition protection and prevention of monopoly after the approval of the authorities concerned and the Board shall have all the necessary powers for the Centre to exercise its jurisdiction and achieve its objectives.
The Competition Protection and Monopoly Prevention Centre is also responsible for the final issuing of the regulation of the Competition Protection and Monopoly Prevention Law and the appointment of the CEO of the Center.
The CMC has launched its website www.cmc.om and the call centre 80000070/80000077 to receiving complaints and preventing anti-competitive and monopoly activities.
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