MUSCAT : This figure represents 18.4% of the total assets in the country’s banking sector, marking a 10.8% increase compared to the same period last year, according to the latest financial data.
The report highlights strong performance in key financial metrics for Islamic banking. The total financing balance, a primary measure of lending and investments, rose by 9.7%, bringing the balance to around RO 6.4 billion. This increase underscores a rising demand for Sharia-compliant financing solutions in the Sultanate.
Deposits also recorded a substantial uptick, climbing by 17.6% to reach approximately RO 6.4 billion by August’s close. The strong growth in deposits signals growing confidence among customers in Oman’s Islamic banking sector, aligning with the steady increase in financing activity.
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