Bank of Beirut (BoB) took a leap into a new market last month by opening a branch in Oman. BoB is determined to pursue its strategy of growth and expansion despite the local political upheaval gripping Lebanon, where the bank has grown in the past 13 years into a major innovative player. BoB is the first Lebanese bank to operate in Oman, which was chosen for its growing economy and stable environment, BoB chairman Salim Sfeir told Executive. Apart from receiving necessary approval from the Omani authorities in mid 2006, BoB did not get any special incentives from the government in Muscat. The BoB branch office in Oman opened for business on December 12 with a capital of $26 million and a team of 20 persons. “What is good for us is that Oman is very similar to Lebanon in terms of economies of scale. Their banks are as big
