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CBO revises banking law to include Shariah operations

Posted on 10 December 2012

The board of governors of the Central Bank of Oman (CBO) has revised the legal framework of the sultanate’s banking system for the implementation of Islamic banking activities in the country. According to a statement issued on Saturday, the board decided to introduce amendments to the existing banking law in relation to Islamic banking.
A Royal Decree issued last week amended provisions of the banking law to allow for the inclusion of Islamic banking as a licensed banking activity through either specialised banks or independent windows at existing commercial banks………………………………………..Full Article: Source

 
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