Moody's: Special Comment - Islamic Banking in Oman: Solid Growth Prospects Moderated by Industry Challenges
Following the introduction of the Islamic Banking Regulatory Framework (IBRF) in December 2012, Omani banks are now allowed to offer Islamic banking services. Moody's views this as credit positive for the banks as expansion into Islamic banking has the potential to strengthen their franchises and diversify revenue generation, particularly for the largest banks in the system, which will be able to leverage their existing infrastructure and networks.
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