Islamic banks’ assets hit RO 4.2 bn

Muscat: Islamic banking entities provided financing to the extent of RO 3.4 billion as at the end of August 2018, recording an increase of 17.2 per cent over that a year ago, according to the bulletin released by the Central Bank of Oman (CBO). The total deposits held with Islamic banks also registered a significant increase to RO 3.1 billion in August 2018 from RO 2.8 billion as at the end of August 2017. The total assets of Islamic banks and windows combined amounted to RO 4.2 billion as at the end of August 2018, increasing their share to 12.7 per cent of the banking system assets.