Islamic banking assets in Oman climb 10.5% to surpass $26bn

Islamic banking assets in Oman experienced a 10.5 percent year-on-year increase as of July, bringing the total value to 10.1 billion Omani rials, or approximately $26.2 billion. This growth encompasses both dedicated Islamic banks and Islamic banking windows operating within the country.

Data released by the Central Bank of Oman further indicates that these Islamic banking entities provided 8 billion rials in financing by the end of the same period. The figures reflect the ongoing expansion of the Islamic financial sector within the Omani economy.