From being off the Islamic banking radar earlier this year, Oman has now approved Islamic banking licenses for two banks, with a few more on the cards especially to one or two Islamic banking majors in the Gulf Cooperation Council (GCC) countries.
The latest approval is the go-ahead given in late August to the promoters of Al-Izz International Bank to set up an Islamic bank instead of a conventional bank, for which approval was originally given by the Central Bank of Oman (CBO) in September last year……………………………………….Full Article: Source