Islamic banking assets in Oman stand at OMR7.8bn

Muscat: The combined assets of Islamic banks and windows rose to about OMR7.8 billion by the end of June 2024, recording an increase of 18.1 percent compared to the same period in 2023.

This represented 11.4 percent of the total assets of the banking sector in the Sultanate of Oman.

Data issued by the Central Bank of Oman (CBO) indicated that the total financing granted by Islamic banking sector roseby 10.4 percent to reach OMR6.4 billion.

Also,deposits at Islamic banks and windows also increased by 14.7 percent to reach about OMR6 billion by the end of June 2024.