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World Bank buys stake in Oman's Alliance

by Saleh al-Shaibany on Wednesday, 21 November 2007

Oman's Alliance Housing Bank, an affiliate of Ahli United Bank, said the World Bank agreed to buy 9.9% of the lender for 14.4 million rials ($37.45 million).

"The IFC agreed to buy 9.9% in AHB for 14.4 million rials, which we expect the shareholders to approve the deal early next month," Alliance Housing Chief Executive Officer Abdulaziz al-Balushi told Reuters on Wednesday.

The International Finance Corp is the World Bank unit that invests in privately owned ventures. (Reporting by Saleh al-Shaibany) 

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