Oman’s Islamic finance sector is on course for substantial growth this year because of government support and consumer demand.
Fitch Ratings outlined the forecast growth of the finance sector from $36B (2025) to $45B (2026). The agency cited the demand for sukuk – as a funding mechanism – in addition to consumer demand for Shariah compliant financial products.
Operating conditions are supporting both Islamic and conventional banks in the Sultanate owing to moderating oil prices, expanding credit flows, and government regulation (2011-).
Yet Fitch outlined several “structural constraints” that need to be addressed: a lack of Islamic treasury bills, underdeveloped Rial Omani sukuk market, and the limited presence of Islamic non-bank financial institutions.
Fitch projects loan growth of 6-7% (2026) buoyed by rising demand across retail and corporate segments, reinforcing the sector’s appeal for long-term investors.
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