The much-awaited regulation for Islamic banks and window operations of conventional banks will be announced through a Royal Decree at any time. “It can come at any time. The Majlis A’Shura and Cabinet have already cleared the new regulation and now we are waiting for a Royal Decree, which can come at any time,” Central Bank of Oman Executive President Hamoud Sangour Al Zadjali, told Times of Oman.
It appears that the Royal Decree is for amending certain clauses to incorporate Islamic banking business. In fact, Bank Nizwa - the first Islamic bank in the country - and several other conventional banks are ready for starting Islamic banking business………………………………………..Full Article: Source