Wednesday 20, June 2018 by Kudakwashe

MSM releases new Shari’ah-compliant banks and Takaful firms


The Department of Operations at MSM issued a circular stating 32 Shari’ah-compliant companies among them two banks and two Takaful firms


Muscat Securities Market (MSM) has announced a list of Shari’ah-compliant companies for the first quarter of 2018.

These firms’ business and financial behaviour conformed to the requirements of Islamic Shari’ah according to the rules approved by the Accounting and Auditing organisation for Islamic Financial Institutions, reported ONA.

The list includes Shari’ah-compliant banks Izz Islamic Bank and Bank Nizwa, also Takaful companies Al Madinah Takaful and Takaful Oman Insurance.


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