The Central Bank of Oman convened its first meeting dedicated to chief executive officers of banks operating in the Islamic banking sector, as part of its 2025 annual engagement programme with licensed institutions to establish a strategic dialogue and unified vision for the sector’s next phase. The meeting was chaired by Governor Ahmed Al Musalami and was positioned as supporting the objectives of Oman Vision 2040. Discussion topics covered developing Islamic banking and strengthening its competitiveness and sustainability, reinforcing Sharia governance and advancing Sharia-compliant product and service innovation, and building national talent in Islamic finance. The session also reviewed key sector developments and the Central Bank’s initiatives to enable the sector’s role in the national economy, noting Islamic banking’s growth since its 2012 launch to around 20% of total banking system assets as of June 2025. In closing remarks, the Governor urged institutions to test their readiness to withstand shocks through stronger capital, liquidity and risk management, improve operational resilience through secure digital transformation and business continuity, and align business models with long-term national priorities by directing financing toward productive sectors, small and medium enterprises, and green and sustainable initiatives.
Central Bank of Oman 2025-11-06
Central Bank of Oman convenes first dedicated meeting with Islamic banking CEOs as sector reaches 20% of system assets
The Central Bank of Oman held its inaugural meeting with CEOs of banks in the Islamic banking sector to establish a strategic dialogue aligned with Oman Vision 2040. Discussions focused on enhancing competitiveness, Sharia governance, product innovation, and national talent development. The Governor emphasized the need for robust capital, liquidity, risk management, and alignment with national priorities, noting Islamic banking's growth to 20% of total banking assets by June 2025.