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Oman gives green light to standalone Islamic bank

Posted on 17 May 2011

Oman’s central bank has given approval to establish the sultanate’s first standalone Islamic bank, in a bid to grab a share of the rapidly growing Sharia-compliant banking industry.
In a statement to Oman’s state-run news agency, the central bank said it had agreed to the establishment of Bank Nizwa, adding “it will consider any application to open windows for the Islamic banking by any bank operating in the Sultanate wishing to provide such services.”………………………………………Full Article: Source

 
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