National Bank of Oman (NBO) is reportedly considering establishing five new Muzn Islamic banking branches in the country, as part of its strategy to boost its branch network in the region.
The news was revealed by the lender through a filing to the Muscat Securities Market, as reported by Muscat Daily.
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"The board of directors of NBO has recently approved the opening of five new Muzn Islamic banking branches in Mabela, Sur, Sohar, Salalah and Nizwa, subject to regulatory approvals," NBO said in its disclosure to the exchange.
These proposed five new bank offices will be in addition to NBO’s existing Muzn Islamic banking branch in Azaiba, which was opened in January 2013.
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