Financial and Banking News


Oman Borrows $500mn 

The Sultanate of Oman last week signed a $500mn loan agreement with a group of 53 international banks led by Gulf International Bank (GIB). The eight-year loan has a five-year grace period and a 0.375% spread over Libor. The purpose of the loan is to finance development projects, although at the loan signing ceremony the Omani Deputy Prime Minister for Financial and Economic Affairs, Mr. Qais ibn 'Abd al-Mun'im...