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    • Oman’s Islamic Banking Assets Reach RO9.8 Billion by May 20

    By on July 18, 2026
    OMR
    OMR

    Oman’s Islamic Banking Assets Rise 9.2% to RO9.8 Billion

    Muscat: The total assets of Oman’s Islamic banking sector increased to approximately RO9.8 billion by the end of May 2026, marking a 9.2% annual growth and accounting for 19% of the Sultanate’s total banking sector assets, according to the latest data released by the Central Bank of Oman (CBO).

    The figures highlight the continued expansion of Islamic finance in Oman, reflecting growing customer demand and the sector’s increasing contribution to the country’s financial system.

    Outstanding financing provided by Islamic banks and Islamic banking windows rose by 10.5% year-on-year to reach approximately RO7.9 billion by the end of May 2026.

    Meanwhile, customer deposits in the Islamic banking sector also posted strong growth, increasing 11% to approximately RO7.8 billion during the same period.

    The latest data underscores the steady development of Oman’s Islamic banking industry, which continues to strengthen its role in supporting the country’s financial sector and broader economic diversification efforts under Oman Vision 2040.

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