Oman: Total assets of Islamic banks and windows rise by 10%

Getty Images

In terms of market share, Islamic banking assets now make up 16.4 per cent of total banking sector assets

Staff Writer, Times of Oman

May 21, 2023

PHOTO

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.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.