30.05.2011 - Islamic banking gets CBO’s nod

In implementation of the directives of His Majesty Sultan Qaboos, the Central Bank of Oman (CBO) Board of Governors yesterday approved the establishment of Islamic banks in the Sultanate to operate on the basics of the Islamic Sharia. The Board also agreed to allow the banks operating in the Sultanate to open branches through which they can practise Islamic banking activities..............................................Full Article: Source

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