National Bank of Oman SAOG on Dec. 29 said Treasure Fleet International Pte. Ltd. has written to it, proposing the acquisition of a stake in the Omani bank.

The lender stressed that no legally binding commitments have been made, and the proposal is pending the board's review and approval. The bank said further disclosures about the proposal, which also has to be approved by its shareholders and Omani regulators, will be made when any new development takes place.

According to SGPBusiness.com, a Singapore business directory, Treasure Fleet International is a Singapore-based company that was incorporated as a limited exempt private company in 2016.