| Dr Jameel al Jaroodi, Executive President of Nizwa Islamic Bank, has said that Islamic banks will play a greater role in economic development in the Sultanate. The main purpose of Islamic banks is financing small and medium enterprises which lack funds and management expertise.
Al Jaroodi said that Nizwa bank, being the first one introducing Islamic monetary services, will, like any other bank, offer standard services such as current accounts and cheques, but it will also proceed with basic Islamic monetary services involving profitability, speculation and asset leasing...............................................Full Article: Source
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