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E&Y to advise Oman cbank on Islamic banking rules

The Central Bank of Oman has picked Ernst & Young as adviser on formulating a separate set of rules and regulations for Islamic banking institutions, Times of Oman has reported. Ernst & Young Islamic banking professionals have already arrived in Muscat and started working on the project. The international audit firm will look into aspects like fixing of lending limits, single borrower limit, writing of rule books, and formation of s Sharia board.