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Islamic Finance Briefing - Categorized | Banking, People more

Oman’s first Islamic bank fails to elect board

Posted on 25 June 2012

Oman’s Bank Nizwa, a newly-formed Islamic lender which sold shares to the public in June, failed to elect a new board after it was unable to get the required quorum at a general meeting last week, three sources familiar with the matter said.
Bank Nizwa, the sultanate’s first Islamic bank, attracted 681 million rials ($1.77 billion) of bids in its initial public offering, 11 times the sum it planned to raise, signalling strong interest from investors………………………………………..Full Article: Source

 
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