National Bank of Oman (NBO) is intending to launch Islamic banking operations in Oman. Islamic Banking has been named as a key area for development at NBO, which plans to capitalise on the opportunities presented by the innovative industry and meeting the increasing demand for Shari’ah-compliant finance.
Mohammed al Ardhi, NBO’s Deputy Chairman, confirmed that there is, indeed, a need for this diversification and that there is huge potential in the area of Islamic Finance. NBO plans to contribute significantly to the industry by providing banking services to ‘customers who request Shari’ah-compatible products’, after obtaining approval from CBO………………………………………..Full Article: Source