Since Islamic banking and finance has become a reality in Oman following the Royal Directive, authorities have rushed to take necessary steps to establish a regulatory atmosphere for sharia compliant banking and investment.

The Central Bank of Oman (CBO) is following up to pave the way for Islamic banking’s debut in Oman early next year and has already given the nod for establishment of two full-fledged Islamic banks, namely Bank Nizwa and Al Izz International Bank. Currently, commercial banks in Oman are in process to open the doors to Islamic banking services…………………………………….Full Article: Source