23 April 2021: Islamic banking in Oman hits RO5.4b in assets as market share rises
Oman’s Islamic banking industry is continuing to perform well in spite of the economic headwinds caused by the coronavirus pandemic and lower oil prices.
The market share of Islamic banking assets in the overall banking sector assets has reached to 14.5 per cent in February 2021 and Oman’s Islamic banking assets now stand at RO5.4bn, according to the latest statistics released by the Central Bank of Oman (CBO).
Islamic banking’s share of the total banking system has been steadily growing in Oman since the launch of the Sharia’a-complaint banking industry in the country eight years ago.
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