| Oman Arab Bank (OAB) needs OMR 10 million to fund its Islamic banking operations, which it will raise through a rights issue.
The board of directors of Ominvest, which owns a 51 per cent stake in OAB, recently approved the proposed increase in OAB's share capital by way of a rights issue, the money from which will be set apart for Islamic banking operations, reported the Muscat Daily. Ominvest's contribution to OAB's fresh capital requirements would be OMR 5.1 million...............................................Full Article: Source
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