Oman's Islamic banking sector sees 13pc asset growth
Monday, 9 October 2023
RIYADH, Oct 08 (Arab News): Oman's banking sector has experienced significant growth, with the combined assets of banks and Islamic windows rising annually, rising 13 per cent to about 7 billion Omani rials ($18.28 billion) in July, reported its central bank.
According to the Central Bank of Oman, the increase accounted for 17.2 per cent of the country's total banking assets compared to the same period last year.
The CBO data showed that financing balances extended by institutions engaged in Islamic banking increased by 12.3 per cent, reaching about 5.8 billion rials.