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Oman: Young populace to boost Islamic banking

Posted on 25 May 2012

Apart from the stable economy, the presence of a favourable demography in Oman provides ample potential for the growth of Islamic banking in Oman. According to reports, about 20 per cent of adult Omanis prefer a Sharia compliant bank for their banking needs. This trend is similar to overall 22 per cent Sharia compliant assets in the GCC region. In Oman 60 per cent of the population is less than 30 years of age.
“Also with the government plans towards diversification of economy we anticipate the financing needs to increase in Oman thereby providing opportunities for the newer banks”, say analysts of Gulf Baader Capital Market in a report on Bank Nizwa initial public offering………………………………………..Full Article: Source

 
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