Wednesday 17, October 2018 by Kudakwashe

Bank Muscat, Ominvest ink financing pact

 

The credit facility is aimed at creating a stronger capital structure and long-term liquidity for Ominvest.

Bank Muscat has signed a long-term secured credit facility agreement for OMR 120 million with the Oman International Development and Investment Company (Ominvest), reported local daily, Oman Observer.

Ominvest’s investments are diversified across banking, insurance, leasing, real estate, investment banking and private equity, it is the largest public listed investment company in Oman.

Abdulaziz Al Balushi, Group CEO of Ominvest, said that the long-term credit facility signed with Bank Muscat gives the investment firm operational and financial flexibility needed for delivering its commitment to grow and expand investments within and outside Oman.

“Bank Muscat is proud to be associated with Ominvest as our business relationship has grown over the years and we look forward to further strengthening mutually beneficial relations,” added Abdullah Al Hinai, Bank Muscat’s GM Wholesale Banking.

Features & Analyses

Economics Adapting to a new era

  Abdullah Al-Fozan, Chairman of KPMG MESA and KPMG Saudi Arabia, provides an exclusive commentary on the Kingdom’s business… read more