Oman Arab Bank (OAB) is planning to launch its Islamic banking window operations through five branches across major cities of Oman this year. The bank yesterday launched an independent Islamic banking services unit under the brand name Al Yusr. "We are confident that 'Al Yusr' will provide customers with an avenue to be true to their beliefs while offering all the advantages of world class banking," said Abdul Kader Askalan, chief executive of Oman Arab Bank.
"Islamic banking seeks to promote the ideals of a prosperous society and stable economy, based on basic Islamic ideologies. The Sultanate already has a flourishing banking sector and the opening of the Islamic segment will only serve to make it more diverse," Abdul Kader Askalanadded.
The Al Yusr Islamic banking unit will have a special focus on retail, small and medium enterprises (SMEs) and corporate banking segments of the market and plans to launch innovative and tailored products suitable to the needs of Omani customers.
Times of Oman | OAB to offer Islamic products through five branches: "
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