MUSCAT: Oman Arab Bank (OAB) has issued a latest update on the suspicion of forgery and embezzlement of OMR 6 million that it disclosed in December 2020.
In a statement to Muscat Stock Exchange on Tuesday, OAB disclosed the latest developments in the case. “With reference to the Bank’s disclosure on the Muscat Stock Exchange on 22nd December 2020, on the criminal complaint related to the existence of a suspicion of forgery and embezzlement of approximately of six million Omani riyals, the Bank is pleased to disclose that it has received the communication from the loss adjuster that the reinsurers have confirmed that the policy in principle for the amount claimed as mentioned above,” the statement from its CEO Rashad Al Musafir said.
“The Bank would also like to inform that it is continuing to follow up the case with the public prosecutor, in order to preserve the rights of the Bank and its shareholders, legally and financially,” the statement added.
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On December 22, 2020, OAB disclosed that it filed a criminal complaint before the Department of Combatting Economic Crimes at Royal Oman Police for suspicion of forgery and embezzlement of approximately OMR 6 million.
