Proposals to issue sukuk and other Islamic financial instruments in the Omani banking sectorare now in the public consultation stage, according to a statement released by the Capital Market Authority (CMA). The CMA has recently completed a set of regulatory draft provisions to be considered by the government, licensed companies, law firms, audit firms, academics, professional parties and the public following the announcement last year by the Omani government to introduce Islamic finance.
The draft proposals come at a time of increasing investor demand for these products as banks seek to manage their liquidity. Oman is currently the only country in the Gulf Cooperation Council (GCC) yet to introduce Islamic finance………………………………………..Full Article: Source