For the third consecutive year, AbdulRazak Ali Issa, chief executive of bank muscat, has earned a place among the world's 500 most influential Arabs.

In recognition of outstanding contributions to the banking and financial sector in the sultanate and the GCC region, Issa was ranked in the "Power 500 - The world's most influential Arabs" listing by Arabian Business magazine.

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Ahlibank, which signed a memorandum of understanding (MoU) with Taageer Finance Co for a possible acquisition, has completed the due diligence but has sought an extension, until the end of June 2013, to close the remaining formalities.

The bank had signed an MoU with Taageer Finance on February 17, 2013 to explore the possibility of acquiring the company, subject to satisfactory"...

HSBC Bank Oman recently launched a series of innovative and interactive events for its staff across the sultanate in different cities.

Following the merger of Oman International Bank (OIB) and HSBC Bank Middle East's Oman operations last year, the events, titled 'Our Journey to Success,' have been designed to share the bank's strategy, vision and values in a fun and informative way with all its employees.

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Muscat: Bank Muscat on Sunday said it is examining all options to recover $39 million it lost in a major fraud unveiled by US authorities last week.

"Bank Muscat is aware from press reports that a number of arrests in different jurisdictions have taken place in relation to the prepaid debit card fraud incident which we disclosed on February 25 and 26," the bank said in a disclosure statement posted on MSM website Sunday.

"We reiterate that we are exploring all avenues of recovery so as to protect shareholder interests"...

The new scheme is available to new and existing HSBC Bank Oman customers who now stand a chance of winning on a monthly and quarterly basis.

Alan Jarman, Head of Retail Banking and Wealth Management at HSBC Bank Oman said the new and improved Mandoos scheme strengthens the bank's retail banking proposition and further enriches the HSBC Bank Oman customer experience. "The Mandoos Savings Scheme was first introduced more than 25 years ago and has since been a favourite among Omani customers. Today, we have re-designed the scheme based on a market-wide study, valuable customer feedback and...

Oman Development Bank (ODB) opened a new branch in the wilayat of Saham on Wednesday under the auspices of H E Mohammed bin Jawad bin Sulaiman, adviser and acting undersecretary at the Ministry of Finance.

The new branch, ODB's fifteenth in all of the sultanate and the third in Batinah governorate, comes in line with the great interest attached by ODB to match economic development, and is based on a strong belief in the importance of reaching out to most of the wilayats in Oman, a press"...

HSBC Bank Oman, the lender with the second largest branch network in the sultanate, has decided to close down four of its branches to 'optimise locations.'

Following its formation in June 2012, the bank's senior management carried out a comprehensive branch review resulting in the segmentation of the network into three categories –"...

Bank Nizwa, the Sultanate's first Islamic bank, is likely to be included in the MSM 30 Index — the barometer of the market movement. Since the liquidity in Bank Nizwa counter has increased tremendously in the recent past due to speculative trading, the bank is likely to be included in the basket of stocks considered for the general index. The bank listed its shares, following an initial public offering, last year.

The overall trading activity has come down in Bank Nizwa counter in the last couple of weeks as only long-term"...

Oman and Malaysia should embark on joint initiatives to develop a pool of professionals to drive the innovation and growth of the Islamic finance industry, said Raja Nazrin Shah, crown prince of Perak, Malaysia, and financial ambassador of the Malaysian International Islamic Financial Centre.

As the keynote speaker at the Oman Islamic Forum held here yesterday, Shah observed, "There is great potential for the Sultanate of Oman and Malaysia to harness their collective resources and forge a mutually beneficial relationship in"...