MUSCAT: The Sultanate of Oman aims to meet the needs of the Islamic banking sector with new products, a report by an Islamic Finance magazine revealed.
The report highlighted that the Central Bank of Oman seeks to meet the needs of the Islamic banking sector in the Sultanate, through a strategy that adds many new products and services.
According to the Financial Stability Report for 2022, the Central Bank of Oman is developing a set of money market tools to meet the liquidity needs of the sector.
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These tools include emergency liquidity support, in line with the provisions of Islamic Sharia, facilities of last resort, and compensatory deposit facilities based on Islamic Investment Agency.
