Financial and Banking News
BOG Doubles Capital
The Bank of Oman and the Gulf (BOG) is to double its capital from RO2mn to R04mn ($11.6mn) according to a decision of the bank's Board of Directors on 15 December. BOG was established in 1977 and is owned by private interests in Oman and Dubai (including the al-Mulla and al-Owais families). With two branches and assets of R020.2mn ($58.5mn) at the end of 1983, BOG is the smallest of the eight locally controlled banks in...