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Middle East: Oman’s largest non-bank financial institution proposes merger

By  |  February 11, 2015
Middle East: Oman’s largest non-bank financial institution proposes merger

Oman’s United Finance said on Wednesday that Bank Nizwa had approached it with a proposal for a strategic merger. Bank Nizwa, which started operations in 2013 as one of Oman’s two full-fledged Islamic banks. United Finance describes itself as Oman’s largest non-bank financial institution, and offers loans and leasing services as well as corporate deposits.

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    United Finance’s board will consider the proposal at its next meeting, the company said without giving any details. It noted that any merger would need the approval of the board of directors, shareholders and regulators.

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