New $519.3Mn Omani Industrial Bank
The Omani Central Bank has approved the setting up of a new industrial bank with acapital of OR200mn ($519.3mn), according to the Times of Oman. The Industrial Bankof Oman will finance industrial projects by providing working capital and long-term creditfacilities. It will also get involved with evaluating industrial projects, issuing sharesand promissory notes and other services. The bank will be a joint-stock company with 60%...