Oman International Development and Investment Company (Ominvest) on Tuesday said that the company and its strategic partners are in the process of finalising regulatory approval to acquire Oman Arab Bank’s investment banking business (OABINVEST). Ominvest and its strategic partners – Oman Investment Fund (OIF) and Arab Bank (Switzerland) - have signed a memorandum of understanding with Oman Arab Bank in March this year to acquire the latter’s investment banking business. The new shareholding structure of OABINVEST will comprise Ominvest 36%, ABS 34% and OIF 30%, according to a statement released by Ominvest in March. (Times of Oman)