Oman’s Zadjali Says Islamic Banks’ Guidelines Draft Almost Ready
Oman is close to finishing a draft rulebook for Islamic banking in the Gulf Arab country. The statement came from central bank governor Hamud al-Zadjali. The central bank got together with local lenders on Jan. 25 to discuss the regulations.
He added that the guidelines won’t be finished before the banking law is improved by mid-year to incorporate lenders that comply with the religion’s ban on interest.
Shariah-compliant banking will allow lenders in the country the chance to tap growth in the global Islamic finance industry.
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