Sohar International Bank SAOG (MSM:BKSB) sent a letter of intent to acquire Bank Nizwa SAOG (MSM:BKNZ) on November 23, 2021. The transaction is subject to necessary Board, shareholders and regulatory approval and the applicable laws of the Sultanate of Oman. As of January 18, 2022, central bank of Oman has provided approval to go ahead with the due diligence process for the transaction.

Sohar International Bank SAOG (MSM:BKSB) cancelled the acquisition of Bank Nizwa SAOG (MSM:BKNZ) on November 30, 2023. The Board of Directors of Sohar International decided to discontinue discussions of the proposed merger with the Board of Nizwa.