OMAN: Oman Investment & Finance Company (OIFC) has decided against investing in Rasmala Investment Bank’s private equity fund, citing issues over the establishment of the fund.
OIFC was to have invested a maximum of US$5 million in the Rasmala MENA Private Equity Fund 2 in February. The company has clarified that it has no liabilities or commitments to the fund.
Rasmala MENA Private Equity Fund 2 is a Shariah compliant fund that targets mid-cap growth equity and buyout investments primarily in the GCC and Egypt.