While Islamic banking is evolving and maturing elsewhere in the Muslim world, it is preparing to take its first steps in Oman, the only GCC state that without a sharia-compliant banking sector.
That should change in 2012, as a new legal framework regulating the industry - estimated by PwC to be worth $1,000bn globally and to be growing by 15-20 per cent per year - is introduced under the orders of Oman’s ruler, Sultan Qaboos……………………………………….Full Article: Source