Regulatory Alerts2026-07-07
Added · Updated
Circular IB 3: Islamic Banking Windows Conversion and Transformation Framework
All local Licensed Banks operating in the Sultanate of Oman must submit a Board-approved Window Transformation Roadmap to the Central Bank of Oman by December 31, 2026. This roadmap must detail the preferred transformation pathway, strategic rationale, implementation timeline, preliminary capital and governance arrangements, and key operational separation milestones. The transformation from Islamic Banking Windows to fully fledged Islamic Banks must be completed by December 31, 2030, ensuring complete separation between conventional and Islamic banking operations.
Topics
islamic-finance
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