Ahli Bank Plans Islamic Banking Unit, Muscat Daily Says

Jan. 19 (Bloomberg) -- Ahli Bank SAOG plans to set up an Islamic banking division, Muscat Daily said, citing a statement from the lender.

The creation of a Sharia-compliant arm is subject to approval from the Central Bank of Oman, the newspaper said. The Islamic banking unit will include branches throughout the country.

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net

To contact the editor responsible for this story: Greg Chang at gchang1@bloomberg.net