Omantribune
Oman Tribune
Omantribune
Omantribune Search News
Web Oman
    Google Search Button
      Tribune
- Oman
- Soccer World Cup
- Other Top Stories
- Middle East
- Business
- Sports
- India
- Pakistan
- Asia
- Europe
- Americas
- Columnists
- Editorial
- Oman Mirror
- Special Features
- Cinema
- PDF Pages
- Weather
- Travel
- Currency Rate
- Hospitals
- Pharmacies
- Services
- Flight Timings
- Museum Timings
Omantribune Home Omantribune About Us Omantribune Advertising Information Omantribune Archives Omantribune Subscribe-Form Omantribune Jobs Omantribune Contact Us
Friday, October 31, 2014  

NBO readies to launch Islamic banking services
Muscat National Bank of Oman (NBO) plans to launch Islamic banking operations in the Sultanate. The bank, which sees Islamic banking as the next area for development, plans to capitalise on opportunities presented by the innovative industry and meeting the increasing demand for Sharia-compliant finance.

Mohammed Al Ardhi, deputy chairman of the bank, confirmed that there is, indeed, a need for this diversification and that there is huge potential in the area of Islamic finance. NBO plans to contribute significantly to the industry by providing banking services to customers who request Sharia-compatible products, after obtaining approval from the Central Bank of Oman (CBO).

In October, the bank organised a training programme on ‘principles and practices of Islamic finance’ for its staffers. The three-day programme was part of the skill development initiatives of the bank, to support the impending launch of Islamic banking products.

NBO has sponsored the first ‘Oman Islamic Economic Forum’, held under the auspices of HH Sayyid Shihab Bin Tariq Al Said, at Ritz Carlton Al Bustan Palace Hotel. Tun Abdullah Bin Haji Ahmad Badawi, former prime minister of Malaysia, Mohammed deputy chairman of NBO also took part in the programme.  

“NBO is indeed proud to be a sponsor of the first Islamic Economic Forum in Oman. We are delighted with His Majesty Sultan Qaboos Bin Said’s nod to launch Islamic banking in the Sultanate.  We have taken the lead to introduce and launch innovative solutions for customers, and look forward to providing our customers with our Islamic banking services in the near future,” he added.

Oman Tribune
NEWS UPDATES
Oman
Sunaidy, Rajnath sign judicial, legal cooperation agreement
Fair trial forum starts today
Pinda meets investors, promotes Tanzania
SQMC cadets get training with live ammunition
Six housing deals inked
Selection for HM Award set to start
Other Top Stories
White House computer system breached
US government buildings put on high terrorism alert
Iraq army closes in on militia-held Baiji refinery
Rocket to ISS explodes on liftoff
Obama calls on Americans to help check Ebola
Middle East
Violence pushes Libya to point of no return: UN
24,000 Gaza workers get pay in boost to Palestinian unity
Hezbollah dug tunnels to Israel, says army general
House rejects Rowhani nominee for minister again
Business
No need to panic, feels Opec
India retains top slot in most confident consumer market: Nielsen
Indian banks’ soured loans rise to 3-year high
Japan factory output records biggest jump in eight months
Japan factory output records biggest jump in eight months
Sports
Mario finally breaks goal drought
Enrique unaware of Messi’s painkiller
Relief for Dortmund as they cruise through
Proud father Djokovic progresses
Spurs scrape one-point win over Mavs

Sports


International

© 2013 Oman Tribune. All rights reserved. Best viewed in 800 X 600 resolution