No 44



NBO Sells 9.7% Stake In Majan International Bank

National Bank of Oman (NBO) has sold its 9.7% stake in Majan International Bank to an individual investor in accordance with a directive from the Central Bank of Oman (CBO) to banks to liquidate all guarantees and mortgages obtained against bad loans. NBO held 2.88mn shares, which were sold at a price of OR0.99 ($2.57) per share. NBO acquired its share in Majan as a result of the collapse of the Ali Redha Trading...