Category: Banking

Muzn’s Shari’a Supervisory Board Affirms Bank’s Full Adherence To Islamic Principles

  Muzn Islamic Banking concluded its first Shari’a Supervisory Board (SSB) meeting for the year on the 20th of March 2018. The SSB reviewed the Bank’s operations to ensure alignment with Islamic principles, and upon the assessment of the Shari’a Audit Report, the board confirmed that Muzn’s procedures, products and services are compliant with Shari’a […]

Nizwa Welcomes The Islamic Finance Knowledge Program

  Held under the patronage of Sheikh Dr. Khalifa bin Hamad Al Saadi, Governor of A’Dakhiliyah, Bank Nizwa, Takaful Oman Insurance, and Al Kawthar Fund organized the latest edition of the Islamic Finance Knowledge Program in Nizwa. The program highlighted the benefits of Shari’a-compliant financial tools with local attendees and various stakeholders in Nizwa, as […]

OAB Organises Workshop For High-potential Staff

  Oman Arab Bank (OAB) recently held the Socialisation Workshop as part of its ongoing Leadership Enhancement and Development (LEAD) program for its ‘high potential staff’. Organised at the specially designed Training Centre at the Bank’s headquarters in Al Ghubra, the workshop offered LEAD delegates with the opportunity to gain invaluable career insights from members […]

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NBO Works Closely To Support Government Initiatives

  Continuing to drive forward their vision of being the bank of choice, the National Bank of Oman is playing the role of convener to key government officials to conduct meetings with great integrity. This move is in keeping with Vision 2040, to transform Oman into a knowledge based society, which serves as the economic […]

Maisarah sets up RO200mn sukuk programme

Maisarah Islamic Banking Services of BankDhofar has successfully set up a OMR200 million sukuk programme for Golden Group. Maisarah acted as the sole lead and issue manager on the sukuk programme, which is considered as the largest in Oman established for a corporate entity. “The set-up of programme and successful issuance of first tranche is […]

Rashad Al Musafir appointed as OAB’s acting CEO

Amin Al Husseini and Rashad Al Musafir have started their new roles at Oman Arab Bank (OAB) as of February 1, 2018. Al Musafir’s appointment is aligned with the executive succession plan previously adopted by the bank at the senior management level. Al Husseini, who first joined Oman Arab Bank in 2014, has been leading […]

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Bank Muscat to offer baituna finance for Al Shams project   

Bank Muscat and Arabian Properties Company have signed a memorandum of understanding (MoU) offering attractive baituna home finance for exclusive residential units in the Al Shams project in Baushar Hills. Abdullah Tamman Al Mashani, deputy general manager, institutional sales and product development, and Ahmed Haider Ahmed, CEO of Arabian Properties, signed the MoU to facilitate […]

Omani banks achieve robust 7.3 per cent growth in credit

Omani banks, including Islamic institutions, have achieved a year-on-year credit growth of 7.3 per cent at RO23.5bn  by November-end of 2017. Credit to the private sector alone rose by 6.5 per cent to RO20.9bn by the end of November 2017, the Central Bank of Oman (CBO) said in its latest monthly report. The banking sector […]