MUSCAT: The Islamic banking sector in Oman has achieved remarkable growth, with total assets reaching approximately RO 7.8 billion by the end of June 2024. This represents 11.4% of the entire banking sector's assets and marks an 18.1% increase compared to the previous year.
The Central Bank of Oman reported that the total financing provided by Islamic banking units rose by 10.4%, reaching RO 6.4 billion. Deposits also saw a significant increase, growing by 14.7% to approximately RO 6 billion by June 2024. — ONA
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