01.08.2012 - Bank Nizwa to attract Omani funds held abroad

Oman's Bank Nizwa, the sultanate's first Islamic bank, plans to attract some of the funds held abroad at other Gulf Islamic banks in order to grow during its first year of operations, its CEO said. "The amount of Omani money deposited in Islamic banks in the region, such as the UAE and Bahrain, is about OMR3.5bn to OMR5bn (US$9.1bn to US$12.9bn)," Jamil Al Jaroudi told Reuters in a telephone interview this week...............................................Full Article: Source

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