Islamic banking assets in Oman surge to RO 7.5 billion

MUSCAT: By the end of April 2024, the combined total assets of banks and Islamic windows in the Sultanate of Oman reached approximately RO 7.500 billion, accounting for 17.7% of the total banking sector assets. This marks a 13.2% increase compared to the same period last year.

Data from the Central Bank of Oman revealed that the total balance of financing provided by Islamic banking units rose by 12% to RO 6.300 billion by the end of April. Additionally, deposits at Islamic banks and windows saw a 15.9% increase, totalling about RO 5.800 billion by the end of April 2024. — ONA