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Oman Arab Bank to divest unit

Oman International Development and Investment Company (Ominvest) and its strategic partners Oman Investment Fund (OIF) and Arab Bank (Switzerland) (ABS), have entered into a memorandum of understanding with Oman Arab Bank (OAB), to acquire OAB’s investment banking business (OABINVEST). With a successful track record spanning over two decades, OABINVEST is one of the largest asset managers in Oman. It serves leading institutional and ultra-high net worth clients and has a healthy pipeline of corporate finance deals involving initial public offerings, debt placements and advisory mandates. The new shareholding structure of OABINVEST will comprise Ominvest 36%, ABS 34% and OIF%.

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