Central Bank of Oman to Introduce Islamic Money Market Instruments

Central Bank of Oman to Introduce Islamic Money Market Instruments

https://islamicmarkets.com/articles/central-bank-of-oman-to-introduce-islamic-money-market-instruments
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The Central Bank of Oman (CBO) has announced that it is working to establish a number of Islamic money market instruments in its efforts to fulfil the liquidity demands of the Islamic banking industry, including a Shariah-compliant emergency liquidity support facility, a lender of last resort (LOLR) facility and a Wakalah-based remunerative deposit facility, among others, as per the CBO’s Financial Stability Report 2022.

Why it Matters?

The CBO has supported Islamic finance since its introduction in the country in 2012, creating a thorough regulatory framework for Islamic banks. In 2015, it issued the first sovereign Sukuk followed by the first Sukuk issuance open to retail investors in 2020, which gave banks Shariah-compliant securities to manag...