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Islamic Finance Briefing - Categorized | Banking, Performance more

Oman’s first Islamic bank a hit

Posted on 11 June 2012

Oman’s Bank Nizwa rallied as much as 17 per cent on its first trading day as a public company, amid expectations that the country’s first Islamic lender will benefit from a big untapped appetite for Sharia products.
Bank Nizwa last month said it was looking to sell 600 million shares to raise US$158.9 million (Dh583.6m) from investors. Its initial public offering was 11 times oversubscribed, generating $1.77 billion of bids. Yesterday was its first trading day since the share sale………………………………………..Full Article: Source

 
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