Wealth Management by

Oman’s central bank mulling short-term Islamic finance instruments

May 11, 2014 12:33 am

Oman’s central bank is to float a tender seeking advisory service from consultancy agencies, as it seeks to issue short-term Islamic finance instruments to help Shari’ah-compliant institutions to park their excess funds within the country, Times of Oman has reported. The winning consultancy firm will help the apex bank in choosing the type of instruments suitable for the market. The banking regulator has already formed a committee to speed up the process.