Muscat: In a filing at the Dubai Financial Market, the Group stated that the acquisition – subject to regulatory approvals and due diligence – is expected to be completed in the first quarter of 2024. However, the name of the Omani company is yet to be revealed.

“The Omani market is very attractive and one that we believe will support our goal of expanding our footprint in countries with a significant expat population and a resilient economy,” said Rashed Ali Al Ansari, Group CEO of Al Ansari Financial Services.

He indicated that the Group is confident that the expansion would contribute to further broaden their customer base.

The planned acquisition in Oman is part of Al Ansari’s wider plans to grow its footprint in the Gulf region; it marks the Group’s second foray into the GCC market after entering Kuwait.