Oman’s Islamic banking sector sees 17.6% asset growth


Oman’s Islamic banking sector sees 17.6% asset growth by end January 2024

Muscat: Data issued by the Central Bank of Oman indicated that the total assets of Islamic banks and windows combined rose to about 7.5 billion Omani riyals, or 17.6 percent of the total assets of the banking sector in the Sultanate of Oman by the end of January 2024, recording an increase of 16.3 percent compared to the same period last year.

Statistics showed that the total balance of financing granted by units practicing this activity increased by 12.7 percent to reach about 6.2 billion Omani riyals. Deposits at Islamic banks and windows also recorded an increase of 14.9 percent, reaching about RO 5.6 billion at the end of last January.

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