Total assets of Islamic banks hit RO 4.1 billion

MUSCAT: Islamic banking entities provided financing to the extent of RO 3.3 billion as at the end of June 2018 as compared to RO 2.8 billion a year ago, according to the data released by the Central Bank of Oman (CBO). Total deposits held with Islamic banks and windows increased substantially by 18.2 per cent to RO 3.2 billion in June 2018 from RO 2.7 billion a year ago. The total assets of Islamic banks and windows combined amounted to RO 4.1 billion as of end of June 2018, constituting about 12.6 per cent of the entire banking system assets. — ONA