Oman’s Islamic Banking On Positive Trajectory
Oman’s Islamic banking sector is likely to maintain its positive trajectory in the short-to-medium term despite structural challenges, Fitch Ratings reports.
Increased awareness, strong retail demand for Islamic products, supportive regulations, and a strong push from the Islamic windows of conventional banks will drive growth.
Growth in Islamic and conventional banking is also expected to come from the improving operating environment, expected GDP growth, higher oil prices, and easing of COVID restrictions.
A rise in interest or profit rates will also support that growth.
The Islamic banking sector’s growth topped 11.6% year-over-year in 2021, while the conventional banking sector’s finances grew only 3.1% for that same period.
Have Your Say!
Have you been affected by the issues raised in this story? Please share your experiences by emailing haveyoursay@soundvision.com.
Please include a contact number if you are willing to speak to a Muslim Network TV’s representative. You can also get in touch in the following ways:
Tweet: @MuslimNetworkTV
We must take charge of our narrative. Research indicates that 92% of their Muslim coverage is negative. Help us change that.
