KPMG has submitted its recommendations for amending the country’s tax law to the Ministry of Finance. The recommendations aim to ensure that Islamic financial institutions are on a level playing field with their conventional counterparts. According to …
Bank Nizwa is going to request the Central Bank of Oman (CBO) for allowing the bank to get relaxation in deploying funds in overseas markets for a certain period, until Sharia-compliant products are available within the domestic market. Dr Jamil Jaroud…
The first Sharia-compliant fund will be introduced in Oman by Vision Investment Services. All financial instruments of the fund are in compliance with Sharia principles and policies. It is the perfect tool for conventional investors who are seeking ca…
According to an announcement by BankDhofar, its Maisarah Islamic banking branch in Azaiba is planned to be opened in the coming weeks. The new branch shall further cement its commitment to putting its customers first, Oman’s community and economic stab…
Bank Muscat together with the United Nations Environment Programme Finance Initiative (UNEP FI) were hosts of a workshop on January 15th. The topic of the workshop was Environmental and Social Risk Analysis (ESRA). The event was held under the auspices…
Gatehouse Bank is making efforts to attract Oman’s Sharia-compliant institutions to invest their funds in the UK and vice-versa. They are showing keen interest in establishing a business relationship with all Islamic banks. Gatehouse already have treas…
This year’s record of $46 billion in terms of global sukuk sales is very likely to be exceeded in the coming year. A key reason is that countries like Oman, Tunisia and Egypt are just entering the market. Borrowing costs on Sharia-compliant debt have d…
Al Medina Financial and Korean Finance corporation are going to form a Sharia-compliant small and medium enterprise fund worth $50 million. The fund that should be operational in the first quater of next year will provide seed capital for SME companies…
Following the example of other North African countries, Morocco is working on the draft of a law aiming to allow the sale of Islamic bonds. Thus, the country makes efforts to lure more investors to their debt after the surge of global sukuk offerings r…
Tilal Development Company turns to Capital Market Authority (CMA) for raising funds by the country’s first sukuk issue. According to Abdullah bin Salem Al Salmi, executive president of CMA, they are ready to grant Tilal their approval as soon as the la…
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