Alizz Islamic Bank has announced the completion of the takeover offer initiated by Oman Arab Bank (OAB).

The transaction stems from a proposal, first unveiled by Oman Arab Bank last month, to acquire 100 per cent of the issued share capital of Alizz Islamic Bank. The Offeror was a trust established by OAB’s parent company, Ominvest, and Arab Bank plc, acting in concert with Oman Arab Bank.

In"...

Oman Arab Bank (OAB) has announced that it is moving ahead with its planned takeover of Alizz Islamic Bank (AIB).

Ominvest, the parent company of Oman Arab Bank, stated in a filing to the Capital Muscat Authority (CMA) on Monday that shareholders holding more than 90 per cent of the shares of Alizz Islamic Bank have now accepted the takeover offer.

It follows last week’s"...

MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, in line with its commitment to strengthening support to small and medium enterprises (SMEs) held two Najahi Talks seminars in Muscat and Nizwa recently. Launched earlier in September 2019, Najahi Talks is a monthly knowledge-sharing platform that is organised by the Retail Enterprises unit of Bank Muscat for the benefit of Omani entrepreneurs across the country. The events are organised in a casual setting and features sessions by different guest"...

MUSCAT: Leading financial institution Ahli Bank has opened a new branch at the Mall of Muscat in Mabellah to cater to its growing customer base. With this opening, the bank now has total of 27 branches in the Sultanate.
Shaikh Ibrahim bin Yahya al Rawahi, Wali of Wilayat Seeb inaugurated the new branch in the presence of members of the bank’s senior management, branch and departments managers, as well as a group of customers.
The opening of the Mall of Muscat branch reflects the bank’s strategy to"...

Muscat -

Bank Muscat is seeking its shareholders approval for the renewal of Meethaq Sukuk Program of up to RO500mn at an extraordinary general meeting (EGM) later this month.

The bank has invited all its shareholders for the EGM and annual ordinary general meeting to be convened on March 24 at its head office. In a disclosure to the Muscat Securities Market on Sunday,"...

Muscat: Oman’s central bank raised OMR25 million by way of allotting treasury bills on Tuesday.

The treasury bills are for a maturity period of 28 days, from Wednesday until April 1, 2020.

The average accepted price reached 99.882 for every OMR100 while the minimum accepted price arrived at 99.880 per OMR100. The average discount rate and the average yield reached 1.53821 per cent and 1.54003 per cent respectively.

The interest rate on the Repo operations with the CBO is 1.856"...

MUSCAT: In line with its vision ‘To serve you better, everyday’ and commitment to creating rewarding career opportunities for Omani youth, Bank Muscat, the flagship financial services provider in the Sultanate, is participating in the 21st Career and Training Opportunities Fair organised by Sultan Qaboos University (SQU) from March 2-4, 2020. The 3-day annual event is being held with participation from 43 institutions from both the government and private sectors. It was held under the auspices of Sultan bin Salim"...

Muscat: The effective exchange rate index of Omani rial rose by 0.4 per cent to 105 points at the end of December 2019 compared to 104.6 points in the same period of 2018.

The total currency issued till the end of December 2019 stood at OMR1.61 billion against OMR1.60 billion issued in 2018, marking a rise of 0.4 per cent, according to according to data released by the National Centre for Statistics and Information (NCSI) data.

The Sultanate registered an increase in narrow money supply (M1) by 8.5"...

i2c Inc., a leading provider of payment and open banking technology, today announced the appointment of Jim McCarthy as President of the company. Reporting to i2c CEO and founder Amir Wain, McCarthy is responsible for i2c teams working with clients, partners and prospects. He is based at i2c headquarters"...