Oman- CBO institutes Islamic banking department

(MENAFN- Muscat Daily) The Central Bank of Oman has announced the formation of a new department to deal with all matters concerning Islamic banking operations in the country. 

In a circular addressed to all licensed banks operating in the sultanate the executive president of CBO H E Hamood Sangour al Zadjali announced the establishment of the Islamic banking department at the central bank.

H E Zadjali said correspondence on matters regarding Islamic banking is to be addressed to the manager of the new department. He added that interactions with the existing banking examination and surveillance departments would continue under their purview.