Oman Arab Bank and Alizz Islamic Bank to merge.
BANKING AND CREDIT NEWS-June 17, 2020--Oman Arab Bank and Alizz Islamic Bank to merge
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Global Banking News - 17 June 2020
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Oman Arab Bank (OAB) and Alizz Islamic Bank (AIB) have announced a plan to merge.
The firms have been involved in talks for the past two years. The move will see the establishment of a major banking entity that is expected to deliver conventional and Islamic banking services.
Oman Arab Bank has agreed to submit an offer that will aim to make Alizz Islamic Bank a wholly-owned Islamic banking subsidiary. Alizz Islamic Bank is to be converted into a closed joint-stock company (SAOC)...
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