Islamic finance in Oman poised for solid growth: Bank Nizwa CEO

Islamic financial institutions in Oman are expected to achieve a healthy growth in the banking sector in the near future, said Dr Jamil El Jaroudi, chief executive officer of Bank Nizwa. He also said that Bank Nizwa will open new branches in the Sultanate by the end of the year. The bank was able to reach breakeven in December after three years of operations. In order to reach more potential clients, a mobile branch will travel all-around the Sultanate offering a host of products, services and also make the people aware on the benefits of Islamic banking. The truck’s journey will start from the governorate of Muscat, moving on to Dakhiliyah, Al Sharqiya, Dhofar, Al Batinah and Al Buraimi.