(MENAFN- Khaleej Times) Omani lender Bank Nizwa, the sultanate's first full-fledged Islamic bank, plans a steady expansion of its retail network with a view to capturing a five per cent share of the total banking market, according to its chief executive.
The country's two new Islamic banks, Bank Nizwa and Al Izz Islamic Bank, obtained operating licences late last year.
"We believe that probably the Islamic industry will be 15 to 20 per cent of the total banking sector. Our share of that, being a full-fledged Islamic bank, well-capitalised, well-staffed, I think it should be 30 to 50 per cent," Jamil Al Jaroudi told Reuters. "We could end up having five per cent of the total market."
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