For the fourth year in a row, IFN is excited to be back in Oman. The country has been the hotbed of interest for investors for almost half a decade despite being the new kid on the block. The growth of the Islamic finance and banking industry has been an effective contributor to the country’s economic growth with efforts being exercised frequently across multiple sectors in the past years.
Oman’s Islamic finance industry recorded a growth rate of 14% last year. The country has two stand-alone Islamic banks and six Islamic windows at conventional banks offering Islamic services. Its Islamic finance assets are projected to grow to US$3.2 trillion by 2020, with Islamic banking reaching US$2.6 trillion globally.
