RIYADH: Oman’s Islamic finance industry is expected to exceed $40 billion between the second half of 2025 and 2026, supported by ongoing regulatory reforms and strong demand for Shariah-compliant financial services, according to Fitch Ratings.
Despite being the smallest Islamic finance market in the Gulf Cooperation Council, Oman continues to post double-digit growth in Islamic banking and sukuk issuance.
Fitch estimated the industry’s size at $36 billion as of end-August 2025, with Islamic banking assets comprising nearly two-thirds of the total.
Islamic finance in the broader region continues to expand at scale. In the UAE the industry surpassed $285 billion in assets by the end of the first quarter of 2025, supported by strong demand and a deepening sukuk market, another Fitch report stated.
In Saudi Arabia, S&P Global forecasts sustainable sukuk issuance will reach between $10 billion and $12 billion in 2025, reflecting continued sovereign and corporate demand.
