Oman's central bank took a strict approach to regulating Islamic banking in rules for the sector which it released on Wednesday, setting higher standards for the industry than many other countries.
The sultanate announced last year that it would introduce Islamic finance, becoming the last country in the six-nation Gulf Cooperation Council to do so. Business activity is expected to start early next year.
The central bank's rules cover areas including banks' liquidity management, the administration of boards of sharia scholars who oversee Islamic financial institutions, and the operation of conventional banks' Islamic windows - and in many cases, the rules appear considerably stricter and more detailed than regulations in other countries.
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