Bank Muscat gets regulatory approval to invest up to RO150mn in GCC banks

Muscat – Bank Muscat announced on Monday that it has obtained regulatory approval to establish a strategic investment portfolio and invest in the listed banks in GCC countries.

‘Bank Muscat wishes to inform the market that it has received in-principal approval from the Central Bank of Oman to set up a wholly-owned Strategic Investment Portfolio (SIP) and invest up to RO150mn,’ the bank stated in a disclosure to the Muscat Stock Exchange.

This investment portfolio is part of Bank Muscat’s enterprise growth strategy, focusing on…