Islamic banks in the UAE now almost one-fifth of financial sector

HE Sultan Bin Nasser Al Suwaidi, Governor of the Central Bank of the UAE, stated that the number of Islamic banks operating in the UAE now stands at eight. The Governor also congratulated the Sultanate of Oman on the licensing of its first Islamic bank and welcomed the Central Bank of Oman to the Islamic finance community of regulators.
Despite this, Al Suwaidi was the one that directed the majority of his remarks to the state of Islamic finance within the UAE itself.

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