Assets of Islamic banks and windows rise to OMR7.5bn

Assets of Islamic banks and windows rise to OMR7.5bn

Muscat: Data issued by the Central Bank of Oman (CBO) indicated that the total assets of banks and Islamic windows combined rose to about OMR7.5 billion, or 17.6 percent of the total assets of the banking sector in the Sultanate of Oman by the end of January 2024. This the report said was an increase of 16.3 percent by end January 2024 compared to the same period in 2023.

Statistics further showed that the total balance of financing granted by units practicing this activity increased by 12.7 percent to reach about OMR6.2 billion.

Deposits at Islamic banks and windows also recorded an increase of 14.9 percent, reaching about OMR5.6 billion at the end of last January.