The Central Bank of Oman said its board, at its second meeting of the year, approved several policy measures affecting the financial sector. These included the general strategy of the Oman Credit and Financial Information Centre, an Islamic banking policy to convert Islamic windows at conventional banks into independent Islamic banks, and a policy for licensing investment banks and private banking in Oman. The Islamic banking measure is intended to improve the efficiency of the Islamic banking sector and support its growth and sustainability. The licensing policy is aimed at diversifying financial services, deepening the financial sector, and expanding financing and investment options. Separately, the board approved the central bank's participation in the 2028 Olympic Commemorative Coin Program as the representative of the Asian Continent, and reviewed reports and briefing memoranda on the central bank's and the financial sector's activities before taking further decisions on agenda items.
Central Bank of Oman2026-06-29
Central Bank of Oman board approves Islamic window conversion policy and investment bank licensing framework
The Central Bank of Oman's board approved a policy to convert Islamic windows at conventional banks into independent Islamic banks and a policy for licensing investment banks and private banking in Oman. It also approved the general strategy of the Oman Credit and Financial Information Centre and the central bank's participation in the 2028 Olympic Commemorative Coin Program.