Central Bank of Oman Announces New Strategy to Boost Islamic Banking Sector in the Country

The Central Bank of Oman (CBO) has announced the development of a new strategy to align the growth of the Islamic banking sector with the country’s national growth objectives.

Why it Matters?

According to Tahir Salim al Amri, Executive President of CBO, the new strategy will assist with foreign investment inflows, collaboration between international and regional partners for training, awareness building and transfer of knowledge, as well as sustaining the growth of Oman’s Islamic banking sector. Al Amri noted that despite COVID-19 challenges and unprecedented macroeconomic developments, Oman’s Islamic banking sector showed a strong and consistent performance. The CBO is targeting that Islamic finance will be the main contributor to the national developme...