São Paulo – Event "Oman’s entry into Islamic financial markets – Opportunities and Challenges”, to take place on Sunday (24), in Muskat, should debate the country’s relations with global Islamic finance markets.
The event is organized by North American financial information company Thomson Reuters, in partnership with Capital Market Authority of the Sultanate of Oman (CMA), the General Council for Islamic Banks and Financial Institutions (Cibafi) and the Islamic Research and Training Institute (IRTI).
According to a press statement disclosed by Thomson Reuters, the forum should cover opportunities for Islamic finance operations in Oman, how to benefit from the global market interest in Islamic finance and how to explore perspectives to develop a fixed income and interbank sector in the country.
“Oman finds itself in a very nice position for attracting a disproportionate share of Shari’a sensitive private investment from the rest of the cash rich GCC states and further afar,” said Russell Haworth, Middle East and North Africa Managing Director at Thomson Reuters, in a company press statement.
The other Middle East jurisdictions have always looked to Oman for investment as it is a country with which they share long standing ties of brethren,” said Dr. Omar Hafiz, Secretary General of CIBAFI, also in the press statement.
In January this year, the first Islamic bank in Oman, Nizwa Bank, was inaugurated. The country was the last member of the nations in the Gulf Cooperation Council (GCC, the economic bloc that includes Oman, Qatar, Bahrain, the United Arab Emirates, Saudi Arabia and Kuwait) to get a religious financial system.
*Translated by Mark Ament
