Bank Nizwa, Al Izz to float 40pc shares by June

MUSCAT: Oman Islamic banks will float 40 percent of their shares by June, the sultanate's central bank Executive President Hamood Sangour al-Zadjali said on Monday.

Zadjali was speaking to reporters on the sidelines of an Islamic finance conference.

Bank Nizwa and Al Izz International Bank have been granted banking licences to operate as Islamic banks. Conventional lenders are also allowed to establish Islamic banking windows in the non-OPEC oil producer.