Mr. Adnan Ahmed Yousif, Chairman of the Union of Arab Banks and President & Chief Executive of Al Baraka Banking Group stated that he expects that the Islamic banking sector in the Sultanate Oman will achieve a good spread, and the market share in the domestic banking sector will exceed 20 percent during the next five years.

In an interview with «Oman Newspaper» Mr. Yousif mentioned about his interest in entering the Islamic banking industry in the Sultanate, but due to factors related to the policies of the group towards the structure of ownership, Al Baraka Banking Group is currently studying the possibility of managing a bank in the Sultanate or to engage in Islamic finance related services, if the new banking laws in Sultanate permits us to do so.

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