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- Commercial Bank, Microsoft co-host first DHL4SMEs workshop
- Dukhan Bank announces April winners in Thara'a savings account prize draw
- Qatar advances sustainable desalination with innovative technologies
- E-payments account for 79% of Saudi retail transactions in 2024: SAMA
- Fitch sees resilient credit metrics for Omani banks in 2025
- Bank Muscat's Q1 profit rises 8% to RO58.5mn
- Dubai gold price hits another record after near Dh7 a gram rise
- Europe enjoying some 'exorbitant privilege' as funds head home
- Dubai listed companies buck wider declining GCC trend
- E& shareholders approve 83 fils dividend per share for FY 2024
07/04/2015 07:11 AST
Oman Investment and Finance (OIFC) on Monday said that Wasel Exchange, its wholly owned subsidiary, started operations of its head office and first branch in Ghala.
OIFC last year said that the new company will have a capital base of OMR1.5 million.
The opening of an exchange is part of OIFC's larger strategy to diversify revenue streams, in an apparent move to bring down its current over-dependence on third party utility billing and collection business. OIFC is looking at business opportunities where the company has synergies and can take advantage on its nationwide network of branches.
OIFC's Wasel Exchange is the sixteenth money exchange firms in the country. The fifteen existing firms have more than 250 branches across the country, handling approximately OMR10 million remittances in a year. Of late, there has been a major focus on branch expansion by a few leading exchange houses to strengthen their market share.
The Sultanate's banking regulator stipulates that money exchanges with a remittance licence are required to have a minimum capital of OMR1 million, while the requirement is OMR100,000 for those exchange houses carrying out only money change business.
Times of Oman
18/01/2015
Oman Investment & Finance Company said it has established a dedicated quality centre to enhance the quality aspects of its billing operations and improve the customer service for utilities billing.
Trade Arabia
29/05/2014
The board of directors of Oman Investment and Finance Company (OIFC) yesterday decided to recommend a 25 per cent cash divided amounting to OMR5 million. This is subject to the approval of shareholde
Times of Oman
03/02/2014
Oman Investment and Finance Co (OIFC) posted a net profit of RO5.05mn for the nine-month period ended December 31, 2013, compared with RO1.75mn for the same period of the previous year - an incre
Muscat Daily
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ALPHADHABI | 11.10 | 0.12 (1.09 |
| IQCD | 12.56 | 0.13 (1.04 |
| ADNOCLS | 4.42 | 0.02 (0.45 |
| ADPORTS | 4.04 | -0.06 (-1.47 |
| NMDC | 23.00 | 0.32 (1.41 |
16/04/2025
Commercial Bank, a leader in innovative digital banking solutions in Qatar, in collaboration with Microsoft, hosted the first DHL4SMEs workshop on digital and financial strategies for SMEs at Commerc
The Peninsula
16/04/2025
Dukhan Bank announced the names of the most recent round of draw winners for Thara'a, its Shariah compliant savings account, at the Bank's headquarters.
The draw was conducted under the supe
The Peninsula
16/04/2025
Bank Muscat, the largest financial institution in Oman, reported a net profit of RO58.56mn for the first quarter of 2025, compared to RO54.24mn reported during the same period in 2024, reflecting a y
Muscat Daily
16/04/2025
E& shareholders on Tuesday approved the Board's recommendation for FY 2024 of cash dividend of 83 fils (Dh0.83) per share for the fiscal year 2024.
Jassem Mohamed Bu Ataba Alzaabi, Chairman
Khaleej Times
15/04/2025
Dukhan Bank, Qatar's leading provider of Sharia-compliant financial solutions, has launched a new House Finance campaign offering customers exclusive benefits, including a competitive profit rate as
The Peninsula
Financial Information Co.
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