Oman Arab Bank proceeds with acquisition of Alizz Islamic
Oman Arab Bank has agreed to make an offer to the shareholders of Muscat-based Alizz Islamic Bank to acquire its entire issued share capital.
In a filing with the Muscat Securities Market on Tuesday (June 16), Oman Arab Bank said Alizz will become its wholly-owned Islamic banking subsidiary and converted into a closed joint stock company.
Oman Arab Bank’s current Islamic banking window, Al Yusr, will transfer its assets and liabilities to Alizz following the completion of the acquisition.
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