Oman Arab Bank and Alizz Islamic Bank to Seek Merge
banking entity that is expected to deliver conventional and Islamic banking services. Oman Arab Bank has agreed to submit an offer that will aim to make Alizz Islamic Bank a wholly-owned Islamic banking subsidiary. Alizz Islamic Bank is to be converted into a closed joint-stock company (SAOC). After the move is completed, Al Yusr, Oman Arab Bank's Islamic Banking window, will be integrated with Alizz Islamic Bank SAOC. Shares in OAB will then be listed at the Muscat Securities Market (MSM), converting it into a public joint-stock company.