Category: Banking & Finance

Banking & Finance
Oman Arab Bank opens Qurum branch

Oman Arab Bank (OAB) has officially opened their new flagship branch located in Qurum. The new branch relocated from its previous location in the Al Araimi complex to a more prominent and easily accessible location at the Burj Al Amal in Qurum. With the opening of the customer centric branch, OAB aims to deliver enhanced […]

Banking & Finance
OBA farewell reception for Hamoud Sangour Al Zadjali
OBA hosts farewell reception for Hamoud Sangour Al Zadjali

The Oman Banks Association (OBA) hosted a farewell reception in honour of Hamoud Sangour Al Zadjali, who has stepped down as the longest serving Executive President of the Central Bank of Oman (CBO). The reception organised at the Chedi Muscat Hotel was attended by HE Tahir Salim Al Amri, Executive President of CBO, AbdulRazak Ali […]

Banking & Finance
Central bank raises OMR63m through treasury bills

Oman’s central bank raised OMR62.81 million by way of a treasury bill. The treasury bill has a maturity period of 91days, from October 18 to January 17, 2018. The average accepted price reached 99.711 for every OMR100 while the minimum accepted price arrived at 99.705 per OMR100. The average discount rate and the average yield […]

Banking & Finance
Ominvest Office Building 3
Ominvest plans to raise RO50mn in bond issue

Oman International Development and Investment Company is gearing up to publicly issue an RO50mn perpetual bond to seize future growth  Perpetual bonds valued at RO50mn will be issued by Oman International Investment and Development Company (Ominvest), a leading investment holding company in the Mena region. The bond issue, which will be a public issue, will […]

Banking & Finance
Alizz Islamic Bank to finance expansion of Gutech facility

Alizz Islamic Bank has signed an agreement with Oman Educational Services (OES) to finance the expansion of German University of Technology in Oman (GUtech)’s facilities and student accommodation. OES is the owner company of GUtech. As per the agreement, the financing facilities will be used for the construction of an additional academic building at GUtech […]

Banking & Finance
Bank credit volume exceeds RO20bn till June 2017

The total bank credit of commercial banks in the Sultanate by the end of June 2017 stood at RO20,108.6mn  compared to RO19,348.1mn during the same period of 2016, comprising an increase of 3.9 per cent. The Statistical Quarterly Bulletin issued by the Research and Statistics Department of the Central Bank of Oman (CBO) said that the personal […]

Banking & Finance
Oman-India Connect Forum Panel Discussion
Oman-India Business Connect Forum highlights investment opportunities

 ‘Oman-India Business Connect Forum’, hosted by Meethaq, the Islamic banking window of Bank Muscat, spotlighted investment opportunities for Indian investors in Oman as well as new possibilities and collaborations in Islamic banking and finance vis-à-vis the investment opportunities in Oman. Organised against the backdrop of Oman’s strategic economic diversification programme and the emergence of Islamic […]

Banking & Finance
Bank Muscat baituna finance for Boulevard Tower
Bank Muscat, Imdad join hands to promote Boulevard Tower project

Bank Muscat and Imdad Real Estate Development Company signed a memorandum of understanding (MoU) to provide attractive baituna home finance for exclusive residential units in the Boulevard Tower project in Muscat Hills. Abdullah Tamman Al Mashani, deputy general manager – institutional sales and products development, and Sheikh Abdullah Al Khalili, Director of Imdad Real Estate […]

Banking & Finance
Budget deficit slips to RO2.4bn in the first half

A growth in state revenue coupled with a reduction in expenditure led to a much lower deficit in the first half of 2017 between January and June. The budget deficit declined to OMR2.4 billion in the first half of 2017, from OMR3.5 billion for the same period of last year. Average annual inflation based on […]