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Islamic Finance Briefing - Categorized | Banking, Performance more

Oman’s first Islamic bank sees profit in 2014

Posted on 02 July 2012

Oman’s Bank Nizwa, a newly formed Islamic lender which sold shares to the public in June, expects to post its first profit in 2014 and will elect a new board this month, its chief executive said.
“We aim to make our first profit in 2014 though we would like to make it happen sooner, in the first year of our operation, but that may not be possible,” Jamil al-Jaroudi, CEO of Bank Nizwa, said. Jaroudi said the bank’s new board would be elected in a shareholders’ meeting set for July 31………………………………………..Full Article: Source

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