The value of Islamic banking assets in the Sultanate of Oman increased by 11.9 percent at the end of last January, on an annual basis.
Data issued by the Central Bank of Oman showed that the total assets of Islamic banks and windows combined amounted to about 5.9 billion Omani riyals ($15.3 billion) in January 2022, an increase of 11.9 percent compared to the same month in 2021. The assets of Islamic banks accounted for 15.2 percent of the total assets of the banking sector in the Sultanate of Oman in January.
The total financing balance granted to the Islamic banking sector in the Sultanate increased by 10.6 percent to 4.9 billion Omani riyals ($12.7 billion) during the comparison period. As for the value of deposits with Islamic banks and windows, it recorded an increase of 14.6 percent, reaching 4.4 billion Omani riyals ($11.4 billion), by the end of January 2022.
Islamic banks in Oman have been able to make their mark in the banking sector since their adoption in the Sultanate, at the end of 2012. During the past years, Islamic banks and banking windows recorded a strong presence through a network of branches distributed over the various governorates of the Sultanate. The total number of operating branches of Islamic banks and banking windows reached 77 licensed branches.
Source (Al-Dustour Jordanian Newspaper, Edited)
