13 May 2013
Muscat: Bank Muscat, the leading bank in Oman, will announce the completion of OMR75 million private placement transaction with International Finance Corporation (IFC), a member of the World Bank Group, and IFC Capitalisation Fund, on Monday.
The private placement, which stems from the bank's overall capital augmentation plan, reflects yet another positive initiative for further growth and identification of new business opportunities, according to a press statement.
The high profile ceremony at the bank's head office will be attended by Shaikh Khalid bin Mustahail Al Mashani, Chairman of Bank Muscat, Dimitris Tsitsiragos, IFC Vice President for Europe, Central Asia, Middle East and North Africa, and top officials of the CBO and Capital Market Authority.
The existing relations between Bank Muscat and IFC date back to 2005 and IFC has been partnering the bank in many business and develop- mental aspects, including promoting SME financing, mortgage financing and technical support on specialised areas such as SME development in Oman. The private placement will further expand this strong relationship into other areas, including long-term funding benefiting social and economic development in Oman.
Muscat: Bank Muscat, the leading bank in Oman, will announce the completion of OMR75 million private placement transaction with International Finance Corporation (IFC), a member of the World Bank Group, and IFC Capitalisation Fund, on Monday.
The private placement, which stems from the bank's overall capital augmentation plan, reflects yet another positive initiative for further growth and identification of new business opportunities, according to a press statement.
The high profile ceremony at the bank's head office will be attended by Shaikh Khalid bin Mustahail Al Mashani, Chairman of Bank Muscat, Dimitris Tsitsiragos, IFC Vice President for Europe, Central Asia, Middle East and North Africa, and top officials of the CBO and Capital Market Authority.
The existing relations between Bank Muscat and IFC date back to 2005 and IFC has been partnering the bank in many business and develop- mental aspects, including promoting SME financing, mortgage financing and technical support on specialised areas such as SME development in Oman. The private placement will further expand this strong relationship into other areas, including long-term funding benefiting social and economic development in Oman.
© Times of Oman 2013
