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Omani Islamic banks' assets at $5.2bn
- Oman: Thursday, September 27 - 2012 at 08:59
According to a study by Oman's Al Izz Islamic Bank, assets of Shari'ah-compliant lenders in the sultanate constitute 10% of total banking assets and are set to cross OR2bn ($5.2bn) by 2015, Oman Daily Observer has reported. The study, whose results were published in alongside the initial public offering of the bank's shares last Sunday, indicates that the basic incentives for Islamic monetary services in the country are seen driven by a number of factors, including demographic indicators as people aged 15-80 years constitute 72% of the Sultanate's population, the greatest majority of which is Muslim.
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