1 / 0

Challenges for Islamic Banking in Oman

Challenges for Islamic Banking in Oman. AGENDA. Strength of Islamic Banking in Oman Legal Reforms Products Development Pioneer of Islamic Banking. Strength of Islamic Banking in Oman. Components of IBRF. Challenges of Islamic Banking i n Oman. System and Controls.

margot
Download Presentation

Challenges for Islamic Banking in Oman

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Challenges for Islamic Banking in Oman
  2. AGENDA Strength of Islamic Banking in Oman Legal Reforms Products Development Pioneer of Islamic Banking
  3. Strength of Islamic Banking in Oman
  4. Components of IBRF
  5. Challenges of Islamic Banking in Oman
  6. System and Controls Funds Segregation Challenge Fundamentals IT System Separate Book Sharia Framework Funds Segregation Policies CBO Framework Funds Segregation Assurance IIFM, AAOIFI & IFSB Business Ethics ALM Guidelines Corporate Governance External/ Regulator’s Audit Sharia Inspection
  7. Challenge of Regulatory Reforms Government patronage and regulatory reforms can play a pivotal role for the development of Islamic banking like taxation benefits Provision in Commercial codes for Islamic Banking to ensure enforceability of contract in courts like trust laws, beneficial ownership Level playing field between Islamic and conventional banks in term of products commercial viability e.g. double taxation issues Sharia Compliance Re-assurance via Centralized Sharia Board
  8. Challenges in Product Development Need of standardization of contracts for Islamic products. Public perception management Lack of Research and Development efforts Next Generation of Islamic banking products instead of mimicking conventional banking
  9. Pioneer of Islamic Banking in Oman
  10. Meethaq Home Finance Started operations in 2008 First mortgage product of Oman Total portfolio is over RO 90 Mio Total Meethaq customers are over 2000 Majority of the customers are first time borrowers Pioneer of Islamic Banking in Oman
  11. Market Leadership Initiatives
  12. Thank You
More Related