Oman to form Shari’ah board for Islamic lenders

March 19, 2014 10:15 am

Oman’s central bank executive president, Hamoud Sangour Al Zadjali has said setting up a national Shari’ah board for regulating Islamic banks and window operations of conventional banks will be completed soon, Times of Oman has reported. “Now, we are in the process of formulating the board, which will consist of five members selected by the central bank of Oman,” he said. The members of the board will be Shari’ah scholars and some of them will be Omanis, Al Zadjali said. “But we may need one or two experts from outside the country.”