03.12.2012 - Oman: The issues regarding Islamic banking
As it seems, the Islamic banking legislation expected within the amendments added to the Banking Act comes in this context and they have taken a bountiful share of studies and discussions as a new experience in the Sultanate. We all followed the progress in these legislation while moving between the relevant authorities for review and discussion in transparency and clarity. This made everyone interact with the issue, banks and the public alike, in addition to allowing the establishment of two banks working in accordance with Islamic law which are Nizwa Bank and Al Izz Bank. It was allowed also to commercial banks to open ports operating accordingly...............................................Full Article: Source
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