FINANCIAL NEWS

Islamic banks contain 11.6pct in Oman’s total bank assets

05 Sep 2017

(MENAFN) The combined assets of Islamic banks and window operations had reached OMR3.6bn by the end of June this year, containing 11.6 percent of total bank assets in Oman.

In addition, Islamic banking has increased by leaps and bounds, gaining momentum on the back of continuous innovation despite being a relatively young industry.

Meanwhile, Islamic institutions had recorded a year on year increase of 33.3 percent in financing to OMR2.8bn by the end of June this year.

Furthermore, whole deposits held by Islamic financial institutions also jumped by 50 percent to OMR2.7bn by the end of the cited month of this year.

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MENAFN0509201700450000ID1095820090

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