Bank Dhofar SAOG (MSM:BKDB) submit a non-binding offer to acquire Ahli Bank SAOG (MSM:ABOB) for approximately OMR 390 million on April 10, 2023. Under the terms, 25% of the consideration will be a cash component comprises of OMR 0.200 per share in cash and 75% a stock swap with the exchange ration as 1.2910. Cash component will be paid from Bank Dofar's existing liquidity and capital Resources as well as contribution from Bank Dofar's existing shareholders. Transaction is subject to approval from relevant regulators and respective boards of directors of Bank Dhofar and Ahli Bank. As on April 11, 2023, Ahli Bank's board has rejected the approval. As of April 26, 2023, Bank Dhofar SAOG made a revised proposal to acquire Ahli Bank.

Bank Dhofar SAOG (MSM:BKDB) cancelled the acquisition of Ahli Bank SAOG (MSM : ABOB) on August 3, 2023.