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BankMuscat boss calls for Shariah compliant management tools

AbdulRazak Ali Issa, the chief executive of has said Islamic lenders and windows are set to face the need for Shari'ah-compliant liquidity management instruments as their services are rolled out across the country, Muscat Daily has reported. A strong capital base must be supplemented by strong liquidity management tools, Issa said. The country's central bank said it is to consider options to make Islamic liquidity management instruments available to banks. "Currently, there are no Islamic liquidity tools available in Oman, but perhaps in the future there will be some sukuk issuance through the government," said Hamood Sangour al Zadjali, executive president of Oman's central bank .