Muscat: According to the latest data from the Central Bank of Oman (CBO), Islamic finance now represents 20% of the Sultanate’s total banking sector assets, marking a significant milestone for the sector’s expansion and integration.
The total financing balance extended by Islamic banking institutions grew by 12.3%, climbing to nearly RO 7.2 billion by the end of May 2025.
Deposits also saw a strong boost, increasing by 16.6% year-on-year to approximately RO 7 billion.
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