20 December 2012
MUSCAT -- Bank Nizwa will open for the public in January next year after obtaining final approval from the Central Bank of Oman to initiate Islamic banking services inside the Sultanate starting from December 23, said Dr Jameel al Jarudi, Executive Chairman of Bank Nizwa in a statement to Oman Arabic, sister daily of the Observer.
According to Al Jarudi, the Bank will offer its services to its staff and their families from next Sunday and in a matter of three weeks time we complete technical preparations after which the Bank will be able to conduct international money transactions.
On the same context, Hamoud bin Sangour al Zidjali, Executive Chairman of the Central Bank of Oman (CBO), pointed out that the apex bank hopes that the issuance of Royal Decree No 69/2012 will set the stage for a promising sustainable Islamic banking that can constitute a significant shift for the banking and financial sector in Oman, a step that is likely to prove beneficial for the Sultanate's national economy.
Bank Aliz, another Islamic bank is also gearing up to launch its services as soon as the licensing requirements are completed.
Besides, six local banks are seeking to open Islamic banking windows.
MUSCAT -- Bank Nizwa will open for the public in January next year after obtaining final approval from the Central Bank of Oman to initiate Islamic banking services inside the Sultanate starting from December 23, said Dr Jameel al Jarudi, Executive Chairman of Bank Nizwa in a statement to Oman Arabic, sister daily of the Observer.
According to Al Jarudi, the Bank will offer its services to its staff and their families from next Sunday and in a matter of three weeks time we complete technical preparations after which the Bank will be able to conduct international money transactions.
On the same context, Hamoud bin Sangour al Zidjali, Executive Chairman of the Central Bank of Oman (CBO), pointed out that the apex bank hopes that the issuance of Royal Decree No 69/2012 will set the stage for a promising sustainable Islamic banking that can constitute a significant shift for the banking and financial sector in Oman, a step that is likely to prove beneficial for the Sultanate's national economy.
Bank Aliz, another Islamic bank is also gearing up to launch its services as soon as the licensing requirements are completed.
Besides, six local banks are seeking to open Islamic banking windows.
© Oman Daily Observer 2012
