Alliance Housing Bank (AHB), Oman's only private sector housing finance institution, may enter commercial banking business. AHB has appointed Ernst & Young to conduct a study on various business opportunities available in the local market to enhance shareholders' value, AHB General Manager Keith Scott has told Oman Observer.
The Ernst & Young study, which will be completed by the end of March, is crucial for taking a decision on whether to proceed with the plan.
Alliance Housing Bank offers mortgages on properties in Sultanate of Oman. The Bank's mortgage customers are Omani and other GCC nationals, as non GCC nationals cannot own property in the Sultanate.
