VOL. XXXVI

NO. 8

23-NOVEMBER-1992

Financial and Banking News

REGIONAL BANKING

Omani Banks to Merge; More Consolidation in Banking System Expected

Two locally-incorporated Omani Banks, Bank of Muscat and Bank al-Ahli al-Omani,have agreed to merge into a single institution. The process should be completedon 15 May 1993, after both have held separate shareholders' meetings to approvetheir accounts for 1992. Societe Generale will see its 20% stake in al-Ahlidiluted to around 10%, but will retain a seat...