Islamic banking services in the Sultanate will witness robust growth during 2013, says Ahmed al Musalmi, Deputy CEO, National Bank of Oman. The introduction of Islamic banking has certainly increased market dynamics. NBO has unveiled “Muzn” brand of its Islamic banking window with the plan to allocate RO10m capital to this.
NBO also plans to raise RO 25m through a sub-debt of which RO15m has already been taken. The two Islamic banks (Bank Nizwa and Alizz Islamic) have raised a total of RO150m through an IPO with the aggregate paid up capital of RO 250m………………………………………..Full Article: Source