Category: Banking & Finance

Banking & Finance
Meethaq HFC
Meethaq to finance HCF’s oil field in Block 7

Meethaq, the Islamic banking window of Bank Muscat, and Hydrocarbon Finder E&P (HCF), have signed an Islamic project financing facility for the development of HCF-operated oil and gas fields in Block 7 of Oman. HCF took over the operatorship of Block 7 in April 2016, under an Exploration and Production Sharing Agreement signed with the […]

Banking
Maisarah
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 […]

Banking & Finance
CBO
CBO raises RO71mn from treasury bills

Oman’s central bank has raised OMR71 million by way of issuing government treasury bills. The total value of the allotted treasury bills amounted to OMR71 million, for a maturity period of 28 days, from February 21, until March 21, 2018. The average accepted price reached 99.893 for every OMR100 while the minimum accepted price arrived […]

Banking & Finance
IMF
IMF MD meets CBO Executive President

Christine Lagarde, managing director of the International Monetary Fund (IMF), is on a short visit to the Sultanate. Tahir bin Salim bin Abdullah Al Amri, the executive president of the Central Bank of Oman (CBO), received Lagarde, and her delegation, on Monday at Muscat International Airport, accompanied by a group of CBO officials, said a […]

Banking & Finance
Meethaq
Meethaq signs RO16mn term finance agreements with ASAAS

Meethaq, the Islamic banking window of Bank Muscat, and two subsidiary companies of Muscat National Development and Investment Company (ASAAS) signed term finance agreements with a total value of RO16mn for an upscale 3 star hotel in Muscat and a crew reporting terminal at the airport. Sulaiman Al Harthy, Deputy Chief Executive Officer – Islamic […]

Banking & Finance
CBO DFSA
CBO signs pact with DFSA

The Dubai Financial Services Authority (DFSA) and the Central Bank of Oman have signed a memorandum of understanding (MoU) to cooperate in the supervision and authorisation of firms operating in both markets. The MoU was signed in the Dubai International Financial Centre by Bryan Stirewalt, Managing Director, Supervision Division of the DFSA, and Tahir bin […]

Banking & Finance
QNB
QNB closes $3.5bn loan facility

QNB Group, the largest financial institution in the Middle East and Africa region, announced the successful closing of the syndication for its $3.5 billion, three-year, senior unsecured term, loan facility. The syndication was well supported by 21 international banks and the facility has been upsized due to a strong demand in the market. The new […]

Banking & Finance
StanChart
StanChart opens new headquarters

Standard Chartered announced the official inauguration of its new Oman headquarters office under the auspices of Tahir bin Salim bin Abdullah Al Amri, Executive President of the Central Bank of Oman. This marks the bank’s fiftieth anniversary celebrations. The ceremony was attended by senior Central Bank of Oman and Standard Chartered officials and took place […]

Banking & Finance
Bnak Muscat
Bank Muscat Oryx Fund tops as best performing GCC fund

Bank Muscat Oryx Fund has once again topped as the best performing GCC fund, generating a return of 13.8 per cent in 2017 compared to a decline of 0.7 per cent for the benchmark S&P GCC Index. Over the past five-year period, the leading fund of Bank Muscat has nearly doubled investor money as against a […]

Banking & Finance
Bank Muscat
Bank Muscat proposes 35 per cent dividend

 Bank Muscat has proposed 35 per cent dividend for the year 2017. Continuing the bank’s strong dividend payment track record, the board has proposed 30 per cent cash dividend for 2017. In addition, 5 per cent dividend in the form of bonus shares has been proposed. The bank’s capital adequacy ratio after the cash dividend […]