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Total assets of Islamic banks and windows rise by 10%

Business Saturday 20/May/2023 17:26 PM
By: ONA
Total assets of Islamic banks and windows rise by 10%

Muscat: The total assets of Oman's Islamic banks and windows combined increased by 10 percent to about OMR6.6 billion at the end of March 2023 compared to the same period last year.

In terms of market share, Islamic banking assets now make up 16.4 per cent of total banking sector assets as of the banking sector in the Sultanate of Oman.

The total balance of financing granted by the Sharia-compliant banking entities in Oman engaged in this activity increased by 13.4 percent to reach about OMR5.6 billion.

Deposits with Islamic banks and windows also recorded an increase of 10.3 percent, to reach about OMR4.9 billion at the end of March 2023.