07 March 2012
Muscat: ahlibank is planning to increase the bank's authorised capital to RO150 million from RO100 million now. The board has decided to convene an extra ordinary general meeting (EGM) on March 25 to seek approval from shareholders for raising capital.
ahlibank's board of directors has recently decided to float a rights issue of RO25 million to support expansion, which include Islamic banking window operation.
The Central Bank of Oman (CBO) recently said the minimum capital requirement for Islamic banking window operation is RO10 million for conventional banks, which is over and above RO100 million required for a commercial bank in the Sultanate.
Other major banks are also embarking on raising their paid-up capital. While BankMuscat is planning a RO100 million rights issue, Bank Sohar decided to float a right issue to the tune of RO10 million to be used as capital for establishing Islamic banking window.
Muscat: ahlibank is planning to increase the bank's authorised capital to RO150 million from RO100 million now. The board has decided to convene an extra ordinary general meeting (EGM) on March 25 to seek approval from shareholders for raising capital.
ahlibank's board of directors has recently decided to float a rights issue of RO25 million to support expansion, which include Islamic banking window operation.
The Central Bank of Oman (CBO) recently said the minimum capital requirement for Islamic banking window operation is RO10 million for conventional banks, which is over and above RO100 million required for a commercial bank in the Sultanate.
Other major banks are also embarking on raising their paid-up capital. While BankMuscat is planning a RO100 million rights issue, Bank Sohar decided to float a right issue to the tune of RO10 million to be used as capital for establishing Islamic banking window.
© Times of Oman 2012
