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