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Islamic Finance Briefing - Categorized | Banking, Compliance, Tax, Legal, Regulatory more

Central Bank of Oman approves Bank Nizwa

Posted on 20 May 2011

Islamic banking takes a step closer to reality in Oman with approval from the central bank to establish Bank Nizwa to provide Shari’ah-compliant banking services inside the Sultanate.
A statement from the Central Bank of Oman (CBO) reported the approval for Bank Nizwa and went on to say that the CBO ‘will consider any application to open windows for Islamic banking by any bank operating in the Sultanate wishing to provide such services. This will be governed by the regulations stipulated in the Banking Law, as well as, the related CBO bylaws’……………………………………….Full Article: Source

 
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