MUSCAT – Oman’s Islamic finance industry continues to post double-digit growth and is projected to exceed $40 billion in assets by 2026, according to a recent report by Fitch Ratings. The industry, which reached $36 billion at the end of August 2025, is driven largely by Islamic banking assets, accounting for nearly two-thirds of the total, with sukuk making up around 30 percent.

The findings come ahead of the second edition of the Themar Islamic Banking Conference organised by The Arabian Stories, to be held on September 28 in Muscat under the patronage of His Highness Sayyid Numair. The event will convene senior bankers, policymakers, and scholars to discuss how Islamic finance can strengthen economic stability and support Oman’s Vision 2040.

This year’s agenda will highlight themes such as Waqf Funds and Islamic Takaful as tools for sustainable impact, alongside sessions on Sharia-compliant innovation, financial inclusion, and the role of sukuk in financing national development.

“The growth trajectory outlined by Fitch Ratings reflects both confidence in Oman’s financial system and the increasing global appeal of Islamic finance,” organisers of Themar said. “Our conference is designed to ensure stakeholders are prepared to harness this momentum for long-term economic diversification.”

With the sector’s assets projected to expand rapidly over the next two years, Themar is expected to serve as a timely platform for knowledge-sharing, collaboration, and investment opportunities across the region.