Financial and Banking News
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...