28/09/2017 05:27 AST

Bank Muscat, the flagship financial services provider in the Sultanate, and Majid Al Futtaim Properties signed a term finance agreement for the Mall of Oman project. Anticipated to open in 2020, the Mall of Oman will be the largest shopping mall in the Sultanate. Bank Muscat is offering exclusive financing facility for development of the Mall of Oman project.

The agreement was signed by Abdullah al Hinai, General Manager — Wholesale Banking on behalf of Bank Muscat and Shrimati Damal, Chief Financial Officer — Majid Al Futtaim Holding. The ceremony was attended by Waleed al Hashar, Deputy Chief Executive Officer of Bank Muscat, and senior management team members of Bank Muscat and of Majid Al Futtaim. Bank Muscat is offering exclusive financing facility for development of the Mall of Oman project Commenting on the agreement, Abdullah al Hinai said: “Bank Muscat is proud to successfully close the long-term financing facility with Majid Al Futtaim Properties for the prestigious Mall of Oman project. The financing agreement comes within the scope of joining hands with partners to achieve the highest value for the national economy. The agreement is a clear indication of the availability of viable financing facilities in Oman. Bank Muscat is focused on playing a prominent supportive role in projects of national importance and the association with the Mall of Oman project will further strengthen this approach.”

Al Hinai added: “The successful closure of the term loan facility for Majid Al Futtaim’s Mall of Oman project underscores the bank’s unique capability to handle complex financial deals in the prevailing economic situation. Bank Muscat is proud to be exclusively associated with the project’s financial requirements. Our business relationship has grown over the years and we look forward to further strengthening mutually beneficial relations.”

Oman Daily Observer

Bank Muscat net profit at RO 176.82m


Bank Muscat, the flagship financial institution in the Sultanate of Oman, posted a net profit of RO 176.82 million for the for the year ended December 31, 2017 compared to RO 176.56 million reported

Oman Daily Observer

Bank Muscat offers internships to over 1000 college students


Bank Muscat, the flagship financial services provider in the Sultanate, hosted more than 1000 students from various colleges and universities in the Sultanate as part of internship programme in 2017.

Oman Daily Observer

Bank Muscat, PACP successfully conclude financial literacy drive


Bank Muscat, the flagship financial services provider in the Sultanate, and the Public Authority for Consumer Protection (PACP) have successfully concluded a joint initiative to raise awareness on fi

Oman Daily Observer

Ticker Price Volume
QNBK 137.89 130,508
DIB 6.55 9,484,054
SABIC 106.39 2,885,717
MABANEE 737.00 560,382
BURUJ 34.81 228,528
WALAA 34.51 307,018
SACO 112.80 141,418
Saudi Aramco, CB&I and Chevron Lummus Global sign JDA


Saudi Aramco, through its wholly-owned subsidiary Saudi Aramco Technologies, has today signed a three-party Joint Development Agreement (JDA) with CB&I, a U.S.-based leading provider of technology an

Press Release

Aramco ready to IPO in H2, awaiting govt decision on venue: CEO


Saudi Aramco’s Chief Executive Amin Nasser said on Thursday that the initial public offering (IPO) of the state oil giant is still planned for the second half of 2018, but the government has not yet


Weeks of talks ‘fail to resolve Dana Gas sukuk dispute’


Weeks of talks between UAE energy firm Dana Gas and some local holders of a disputed $700 million sukuk have failed to reach an agreement, sources told Reuters, leaving a potentially protracted legal

Arab News

Damac Properties founder ready to sell 15% stake at Dubai developer


Hussein Sajwani, the Dubai billionaire with links to US President Donald Trump, said Wednesday he was ready to sell 15 percent of his stake at real estate giant Damac Properties. Established by Sajw

Arab News

Mashreq Bank boost wealth management products as demand for investment


Mashreq Bank's head of wealth management Ishrat Kiyani said the Dubai-based lender is beefing up its mutual fund range and portfolio solutions as clients increasingly invest excess funds through loca

The National