Bank Nizwa obtains investment banking licence

Posted by on Jul 25th, 2013 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Bank Nizwa, Oman's first full-fledged Islamic bank, has received an investment banking licence that will allow it to manage funds and issue instruments such as Islamic bonds. The bank launched operations in January and is gradually rolling out a range of sharia-compliant products, aiming to grab a 5 percent share of the country's overall banking market in five years. In December, Oman became the last country in the six-member Gulf Cooperation Council to adopt Islamic finance, issuing extensive regulations for the sector.


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