The euphoria surrounding Islamic banking had to wear off at some point. Banks in Oman that deal in Islamic finance have been one of the hottest investment stories of the past few months. While the party was in full swing, banks including BankMuscat and Bank Nizwa have been able to attract huge sums of capital from investors.
Now jubilation has been replaced by a little more weary navel-gazing, with Fitch Ratings warning that not all Sharia-compliant banks are created equal. Minnows such as Bank Nizwa and alizz islamic bank, currently establishing operations, may face a hard time as BankMuscat and HSBC Oman are poised to carve up the Islamic market………………………………………..Full Article: Source