Rapid Islamic banking growth deepens Oman’s sovereign sukuk market - Moody's
Published 25 Apr,2021 via Muscat Daily - The rapid expansion of Islamic banking assets in Oman will continue to deepen the market for domestic government sukuk, Moody’s Investors Service has said.
The Central Bank of Oman’s recently released data showed that the sultanate’s Islamic banking assets continue to grow at a significantly faster pace than conventional banking assets. Islamic banking assets expanded by 11 per cent year-on-year in February, more than double the 4.9 per cent growth rate of conventional banking assets.
‘A rising share of Islamic assets will continue to deepen the market for domestic government sukuk, although from a low base compared with the rest of the region, supporting government liquidity,’ Moody’s said in a research note.
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