Muscat: The Islamic banking sector in Oman has experienced substantial growth, with total assets reaching approximately RO 7.6 billion by the end of May 2024. This figure represents 18.1% of the Sultanate’s banking sector’s total assets.
Data from the Central Bank of Oman reveals that the total financing balance provided by Islamic banking units rose by 16.7%, amounting to around RO 6.4 billion by the end of May.
Furthermore, deposits at Islamic banks and windows saw a significant increase of 23.5%, reaching approximately RO 6 billion.
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