CF Muscat SME/HF

completed

The proposed project, comprised of an investment in a subordinated loan in Bank Muscat SAOG (“BM” or the “Bank” or the “Company”), is designed to strengthen the Bank’s capitalization and support its lending program to low to middle-income housing households and small and medium enterprises (“SMEs”) in Oman (the “Project”).Bank Muscat, a client of IFC since 2006, is the leading bank in Oman. The Bank is a universal bank providing corporate, retail, investment, treasury, private banking and asset management services to over one million clients through the largest branch network in the country. The Bank also has international presence through its branches in Riyadh (Saudi Arabia), Kuwait and Representative Offices in Dubai (UAE) and Singapore. In addition, BM currently owns 49% of BMI Bank B.S.C, an independent bank with banking interests in East Africa; a 43% stake in Mangal Keshav Group, one of the oldest securities houses in India; a 98% stake in Muscat Capital LLC, a newly created brokerage and investment banking entity in Saudi Arabia; besides a minority stake in Silkbank Ltd. in Pakistan. This new investment is aimed at supporting a bank committed to fulfill the funding needs of segments that play an important role in Oman’s economic growth and job creation as well as strengthening its capitalization for future growth.