Oman-based National Finance Co. SAOG said March 19 that its board of directors approved the appointment of Shahin Al Balushi as CEO, subject to regulatory approvals.

Al Balushi will join the company upon the completion of its merger with Oman ORIX Leasing Co. SAOG, which is expected to be in the next few days. Following the merger's completion, Oman ORIX will cease to exist and National Finance will remain as the combined entity.

Al Balushi replaces Robert Pancras, who has resigned to move to a large investment company in Oman.