Oman’s Islamic banking sector sees 17.6% asset growth

Muscat: The total assets of Islamic banks and windows increased by 16.3 percent reaching about OMR7.5 billion by the end of January 2024. This represents 17.6 percent of the total assets of the banking sector in the Sultanate of Oman.

Data issued by the Central Bank of Oman (CBO) showed that the total balance of financing granted by the Islamic banking sector increased by 12.7 percent to reach about OMR6.2 billion. Deposits at Islamic banks and windows also recorded an increase of 14.9 percent, reaching about OMR5.6 billion.