Meethaq Ra­madan auto fi­nance evokes strong cus­tomer re­sponse

Muscat Daily - - PRESS RELEASES -

Meethaq, the pioneer of Is­lamic bank­ing in Oman from Bank Mus­cat, has evoked a strong re­sponse to an at­trac­tive ve­hi­cle fi­nance coin­cid­ing with Ra­madan.

The spe­cial Meethaq Ra­madan auto fi­nance is avail­able at a 5 per cent an­nual profit rate on the re­duc­ing bal­ance method, along with life Taka­ful dur­ing the en­tire fi­nance pe­riod. The lim­ited pe­riod of­fer is valid till Au­gust 15.

The Sharia’a-com­pli­ant Meethaq auto fi­nance is based on the con­cept of Murabaha wherein the cost of ve­hi­cle and profit is dis­closed to the buyer. Meethaq pur­chases the ve­hi­cle on cus­tomer re­quest and sells it to them at the cost plus agreed profit.

The exclusive ben­e­fits of Meethaq auto fi­nance in­clude fi­nanc­ing up to 80 per cent of the value of ve­hi­cles, a re­pay­ment ten­ure of up to eight years and free life Taka­ful cov­er­age dur­ing the fi­nance pe­riod. Notably, fi­nanc­ing is also avail­able for pur­chas­ing used ve­hi­cles.

The bank does not charge any pro­cess­ing fee and of­fers com­pet­i­tive pric­ing. With min­i­mal doc­u­men­ta­tion and fast pro­cess­ing, the Meethaq car fi­nance is avail­able for cit­i­zens and res­i­dents at all Meethaq branches. Ad­ding con­ve­nience, se­lect Meethaq branches were open with ex­tended work­ing hours from 8pm to 11pm dur­ing Ra­madan. Meethaq strives to ful­fill the needs of cus­tomers with in­no­va­tive Sharia’a-based prod­ucts and is well po­si­tioned to pro­vide Is­lamic fi­nan­cial ex­per­tise to di­verse seg­ments and thereby pro­mote the good of the so­ci­ety as a whole.

Oman is home to the world’s best known auto brands and Meethaq re­mains com­mit­ted to help­ing peo­ple to own their dream ve­hi­cles. By en­cour­ag­ing peo­ple to buy top-qual­ity ve­hi­cles, Meethaq re­it­er­ates its com­mit­ment to road safety, thereby spread­ing safety and hap­pi­ness in Oman.

Meethaq, un­der the um­brella of Bank Mus­cat, is the cen­tre for Is­lamic fi­nan­cial ser­vice in Oman, op­er­at­ing on the prin­ci­ples of trans­parency, trust and part­ner­ship, en­sur­ing the com­fort of re­main­ing true to one’s re­li­gious tenets and val­ues.

Meethaq has adopted the best prac­tices in Is­lamic bank­ing and fi­nance world­wide to com­bine a ro­bust model which pro­tects cus­tomers and com­ple­ments the Is­lamic bank­ing in­dus­try. Every Meethaq prod­uct goes through the process of Sharia’a com­pli­ance cer­ti­fi­ca­tion by the Sharia’a Su­per­vi­sory Board and is cre­ated in line with the guide­lines of the Cen­tral Bank of Oman.

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