Arab Today, arab today national bank of oman sees profit growth slowing
Last Updated : GMT 09:09:51
Arab Today, arab today
Arab Today, arab today

National Bank of Oman sees profit growth slowing

Arab Today, arab today

Arab Today, arab today National Bank of Oman sees profit growth slowing

Muscat - Arabstoday

National Bank of Oman, the sultanate\'s second-largest lender by assets, may see its profit growth slow for the full year amid uncertainty in global markets and increased competition in the local banking sector, its chief executive said on Tuesday. Salaam bin Said al-Shaksy said the company posted a 14 percent rise in second-quarter net profit due to a combination of new products and grabbing more market share. But that level of growth may be difficult to sustain.\"We have done exceptionally well in the first half of the year, mainly in the second quarter. We probably don\'t expect such acceleration that we experienced in the second quarter,\" he said in an interview with Reuters. \"The international financial markets have affected all of us.\"Al-Shaksy said the lender is considering applying for an Islamic banking licence, given that Oman\'s central bank has opened the doors to the Islamic finance industry, in an effort to be even more competitive in a tough environment.\"We are looking at that very seriously. We put a team together to work on that,\" he said. \"We hope, as management, to seek board approval within this year.\" The executive said conventional banks in Oman will need to develop Islamic capabilities quickly in order to compete with Islamic banks that may open in the sultanate. Oman is the only Gulf Arab state which has not set up a bank specifically offering products and services complying with Islamic law. Its central bank head said in 2007 that Oman believed that \"banks should be universal\".The central bank reversed that stance in May in an effort to keep investment funds in the Gulf state and grab a share of the roughly $1 trillion industry.So far, the central bank has approved Bank Nizwa as Oman\'s first standalone Islamic Bank.NBO has an advantage in opening an Islamic branch, al-Shaksy added, due to its relationship with majority shareholder Commercial Bank of Qatar (CBQ), which has operated an Islamic branch in Qatar. CBQ holds a 35-percent stake in the lender, according to Reuters data. From / Arabian Business News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today national bank of oman sees profit growth slowing Arab Today, arab today national bank of oman sees profit growth slowing

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today national bank of oman sees profit growth slowing Arab Today, arab today national bank of oman sees profit growth slowing

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday