RO 7.2bn Total Assets of Oman’s Islamic Banking Sector


Oman’s Islamic banking sector records RO7.2bn in assets

Muscat: The total assets of banks and Islamic windows combined increased by the end of November 2023 by 11.7 percent to reach about RO 7.2 billion, or 17.2 percent of the total assets of the banking sector in the Sultanate of Oman compared to the same period last year.

The total balance of financing granted by units practicing Islamic banking increased by 11.7 percent to reach approximately 5.9 billion Omani riyals. Deposits at Islamic banks and windows also recorded an increase of 10.9 percent, reaching about RO 5.4 billion by the end of November 2023.

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