Category: Banking & Finance

Banking & Finance
Bank Sohar Vision
Bank Sohar collaborates with Vision to offer insurance services

As part of its consistent efforts to provide a diverse bundle of products and services to customers across the Sultanate, Bank Sohar recently signed an agreement with leading Omani insurer Vision Insurance to offer motor, home and travel insurance, as part of its non-life insurance products under the Bank Sohar A’ Tameen Al Mumayaz brand. […]

Banking & Finance
CBO
Islamic banks post 32% growth in financing

Oman’s Islamic banks and window operations have shown a robust year-on-year growth of 31.82 per cent (OMR700 million) in financing at OMR2.9 billion by the end of September 2017, as against OMR2.2 billion in the same period last year. Such robust growth in Islamic finance shows that Sharia-compliant banks have been able to establish themselves […]

Banking & Finance
CBO
CBO launches automated clearing house payment system

The Central Bank of Oman (CBO) has announced launch of its redesigned Automated Clearing House (ACH) payment system on November 18, 2017, which marks the National Day of the Sultanate, thereby attaining one more milestone of providing a safe and secure electronic payments environment in the country. CBO has undertaken this initiative of implementing the […]

Banking & Finance
CBO
Omani banks achieve 5.7 per cent growth in credit

Omani banks, including Islamic institutions, achieved a year-on-year growth of 5.7 per cent in total credit at RO23bn by September-end this year. Credit to the private sector alone grew by 5.7 per cent to RO20.8bn as of the end of September 2017, the Central Bank of Oman (CBO) said in its latest monthly report. Of […]

Banking & Finance
nBO 3
NBO unveils new headquarters

National Bank of Oman (NBO) has officially unveiled its spectacular new headquarters. The latest landmark to complement Muscat’s skyline took centre-stage at a special VVIP event under the auspices of His Highness Sayyid Asaad bin Tariq Al Said, Deputy Prime Minister for international relations affairs and special representative for His Majesty the Sultan, and is […]

Banking & Finance
Al Mouj-AL IZZ
Alizz to offer Sharia-compliant finance to investors at Al Mouj

Al Mouj Muscat, Oman’s lifestyle destination, has signed an agreement with Alizz Islamic Bank to provide home financing solutions to potential home-owners. Under the agreement, aspiring homeowners will have access to a full range of Alizz Islamic Bank’s financing solutions and competitive financing rates when purchasing property at Al Mouj Muscat. “We are proud to […]

Banking & Finance
CBO
CBO raises OMR72 million from treasury bills

Oman’s central bank raised OMR72 million from treasury bill auction. The treasury bills has a maturity period of 28 days, from November 1 until November 29, 2017. The average accepted price reached 99.923 for every OMR100, and the minimum accepted price arrived at 99.920 per OMR100. The average discount rate and the average yield reached […]

Banking & Finance
ODB
ODB to provide agricultural loan for farmers

Oman Development Bank (ODB) is focusing on providing agricultural loan to farmers to support a government initiative to strengthen food security. The loan for farmers will help achieve self-sufficiency to maintain agriculture crops and livestock, and help establish and sustain agriculture with value addition and growth in production, said a bank release. ODB, in cooperation […]

Banking & Finance
Ahlibank
Ahlibank’s assets touch RO2bn

Ahlibank’s total assets rose by 6 per cent to cross OMR2 billion for the first time, while loans and advances and financing for the period increased by 6.2 per cent to OMR1.65 billion. An indicator of the growing popularity of the bank, ahlibank’s customer deposits increased by a noteworthy 17.3 per cent to OMR1.45 billion. […]

Banking & Finance
Bank Sohar
Bank Sohar closes RO100mn bond issue

Bank Sohar successfully closed the issue of up to 100,000 perpetual capital securities (including a greenshoe option) on a private placement basis, at a price of OMR1,000 per capital security, aggregating to RO100mn. The capital securities was issued with an initial interest rate of 7.75 per cent. The results of the private placement were approved […]