Bank Nizwa seeks regulator's nod to invest funds abroad
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Bank Nizwa seeks regulator's nod to invest funds abroad

Bank Nizwa seeks regulator's nod to invest funds abroad

Oman's central bank is considering a request by the newly-formed Bank Nizwa to deploy their funds outside the country for getting returns, rather than keeping the money idle until the bank starts operation, Times of Oman has reported. Bank Nizwa has a capital base of OR150m, while the country's second Shari'ah-compliant lender Alizz Islamic Bank's paid up capital is OR100m. Nizwa concluded its IPO earlier in June, while Alizz closed its primary offer in October.

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