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Oman: Bank merger approved

The takeover by Oman Arab Bank of Alizz Islamic Bank looks set to go ahead, after the Central Bank of Oman gave its approval for the deal. The development was announced in a statement by Alizz to the Muscat Securities Market on 21 April. Alizz says it is now seeking further regulatory approval from the Capital Market Authority and other bodies. Alizz Islamic Bank was founded in 2013 by Sayyid Taimur Bin Assad Bin Tariq Al-Said, nephew of the new ruler Sultan Haitham Bin Tariq.

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