Fincorp shows interest for alliance with Al Maha Financial

Muscat: The Financial Corporation (Fincorp) said that it has expressed interest over a strategic alliance with Al Maha Financial Services.
Fincorp has communicated to Al Maha Financial Services, a company operating primarily in the securities brokerage and asset management business, expressing interest in exploring the possibility of a strategic alliance, Fincorp said in a statement to the Muscat Securities Market (MSM)
"This proposal is subject to both parties agreeing to the terms of the arrangement and obtaining the necessary approvals from the respective shareholders and regulators. Fincorp will update the market on any developments over this matter," it added in the statement.
Commencing operations in 2010 as the youngest brokerage company in Oman, Al Maha Financial Services has emerged as the top 10 brokerage companies in terms of market volumes on MSM. The company’s licenced activities include brokerage, portfolio management, research and advisory, corporate finance and distribution of non-Omani securities and investment products.