Bank Nizwa aims to start operations by the end of July and raise RO60mn through its initial public offering (IPO), which will take place in April.
Speaking at the launch of the full-fledged Islamic bank’s logo, Ahmed Saif al Rawahi, founding committee chairman, said that the bank will have an authorised capital of RO300mn, a paid-up capital of RO150mn and will offer RO60mn - or 40 per cent - through the IPO which is expected ’sometime in April.’……………………………………….Full Article: Source