MUSCAT: As of the end of May 2024, the combined total assets of Islamic banks and windows in Oman reached approximately RO 7.600 billion, accounting for 18.1 per cent of the total assets in the country's banking sector. This marks a 17.4 per cent increase compared to the same period last year.
According to data from the Central Bank of Oman, the total financing balance granted by Islamic banking units rose by 16.7 per cent, reaching about RO 6.400 billion by the end of May.
Additionally, deposits with Islamic banks and windows saw a significant rise of 23.5 per cent, amounting to approximately RO 6.000 billion by the end of May 2024. — ONA
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