08/07/2011 00:00 AST

Omani firm Amjaad Development and London based Edbiz Consulting are collaborating on Oman’s first Islamic finance conference to be held in December 2011

Amjaad Development's Chairman, Khalid Al Yahmadi believes that Islamic finance is desired by the majority of Omanis and that together with government support, it can grow rapidly. Amjaad Development is an investment company which owns and manages a number of companies notably in the construction industry. The Oman Islamic Economic Forum will be an opportunity to discuss some of the challenges that need to be overcome before Islamic finance can become a recognisable feature on the Omani financial landscape.

Following HM Sultan Qaboos’ decision to allow Islamic finance, recruitment agencies have already seen a sharp spike in the number of vacancies advertised for Islamic finance professionals by banks in Oman. Professor Humayon Dar, Chairman of Edbiz Consulting said, "More Muslim countries are adopting Islamic financial services, and Oman has shown interest at an opportune time".

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