Bank credit in Oman has surpassed RO 34 billion, signaling strong growth and increasing opportunities for investors and businesses. This milestone highlights the expanding influence of Islamic finance and the country’s commitment to economic development. Islamic finance in Oman is playing a key role in driving sustainable growth across the financial sector.
The Central Bank of Oman will host the 17th Islamic Financial Services Board (IFSB) Summit in Muscat from February 2 to 4, 2026. The summit will bring together central banks, regulators, industry leaders, and international organizations. The event aims to foster collaboration and innovation within Islamic finance in Oman as well as globally.
Panel discussions at the summit will cover key topics such as developing the sukuk market, enhancing non-banking financial sectors, promoting financial inclusion, and addressing climate change. Dialogue sessions will also involve private-sector leaders, government agencies, NGOs, and youth representatives. Additionally, an exhibition will showcase the contributions of major players in Islamic finance.
Ahmed bin Ja’afar al Musallami, Governor of the Central Bank of Oman, described the summit as a strategic turning point. He explained that it would strengthen understanding of global economic shifts and encourage innovation-driven cooperation. He added that the event would improve the resilience of the financial sector and guide it toward inclusive and sustainable growth.
Dr Ghiath Shabsieh, Secretary-General of the Islamic Financial Services Board, emphasized the summit’s global significance. He said it provides an essential platform for sharing insights on emerging trends and best practices in Islamic finance. He also noted that Oman’s role as host reflects its growing influence in shaping the future of the industry worldwide.
The recent rise in bank credit demonstrates the increasing confidence of investors and businesses in Oman’s financial system. Banks are expanding lending, which supports business growth and entrepreneurship. The growth also reflects efforts to strengthen regulatory frameworks and ensure financial stability.
Overall, Islamic finance in Oman is transforming the banking sector, creating opportunities for investors, and promoting sustainable economic growth. By hosting the IFSB Summit, Oman positions itself as a regional leader in financial innovation. The summit and the bank credit growth together underline the country’s dedication to building a resilient and inclusive financial system. Islamic finance in Oman continues to attract attention, signaling a promising future for the sector.
