We estimate that the Omani Islamic finance industry reached about USD36 billion at end-2025 and could approach USD45 billion in 2026. The market share of Islamic banks and Islamic windows of conventional banks rose to about 20% of system assets at end-November 2025 (2024: 19.2%). The CBO recently launched an electronic system which provides sharia-compliant liquidity-management tools for Islamic banks. Business conditions remain favourable for Omani Islamic and conventional banks, supported by high, but moderating, oil prices. Fitch rated about USD6.5 billion of outstanding Omani sukuk at end-2025, with 88% rated ‘BBB-’, 12% rated ‘BB+’, all issuers on Stable Outlooks, and no defaults.