Times of Oman | News :: Launch of Sharia-compliant products in ODB’s agenda:
"Oman Development Bank (ODB) is considering the launch of an Islamic window to offer Sharia-compliant products to small and medium-sized firms.
In December, Oman became the last country in the six-member Gulf Cooperation Council (GCC) to adopt Islamic finance, issuing regulations for the sector. Developing Islamic finance and smaller firms are two policies which the government hopes will cut unemployment, said a Reuters report.
Government-owned ODB, founded in 1977, considered a full-fledged conversion to become an Islamic bank but is likely instead to opt for an Islamic window, Hamed bin Salim Al Harthy, assistant general manager for branches at ODB, told the agency."
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