Bank Muscat to fi­nance Ma­jid Al Fut­taim’s Mall of Oman project

Times of Oman - - MARKE - Times News Ser­vice

MUSCAT: Bank Muscat, the lead­ing fi­nan­cial in­sti­tu­tion in the Sul­tanate, and Ma­jid Al Fut­taim Prop­er­ties signed a term fi­nance agree­ment for the Mall of Oman project. An­tic­i­pated to open in 2020, the Mall of Oman will be the largest shop­ping mall in the Sul­tanate. Bank Muscat is of­fer­ing ex­clu­sive fi­nanc­ing fa­cil­ity for de­vel­op­ment of the Mall of Oman project.

The agree­ment was signed by Ab­dul­lah Al Hi­nai, gen­eral man­ager, Whole­sale Bank­ing on be­half of Bank Muscat and Shri­mati Da­mal, chief fi­nan­cial of­fi­cer, Ma­jid Al Fut­taim Hold­ing. The cer­e­mony was at­tended by Waleed Al Hashar, deputy chief ex­ec­u­tive of­fi­cer of Bank Muscat, and se­nior man­age­ment team mem­bers of Bank Muscat and of Ma­jid Al Fut­taim. Bank Muscat is of­fer­ing ex­clu­sive fi­nanc­ing fa­cil­ity for de­vel­op­ment of the Mall of Oman project

“Bank Muscat is proud to suc­cess­fully close the long-term fi­nanc­ing fa­cil­ity with Ma­jid Al Fut­taim Prop­er­ties for the pres­ti­gious Mall of Oman project. The fi­nanc­ing agree­ment comes within the scope of join­ing hands with part­ners to achieve the high­est value for the na­tional econ­omy,” Ab­dul­lah Al Hi­nai said: “The agree­ment is a clear indi­ca­tion of the avail­abil­ity of vi­able fi­nanc­ing fa­cil­i­ties in Oman. Bank Muscat is fo­cused on play­ing a prom­i­nent sup­port­ive role in projects of na­tional im­por­tance and the as­so­ci­a­tion with the Mall of Oman project will fur­ther strengthen this ap­proach,” he fur­ther added.

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