Meethaq launches easy payment plan for credit cardholders

The EPP scheme allows Meethaq customers to avail a wide range of goods and services through credit cards and conveniently repay over a period of 12 months

MUSCAT: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, in line with the bank’s vision ‘To serve you better, everyday’ and commitment to offering attractive value proposition for customers, has launched an easy payment plan (EPP) to facilitate affordable purchases of products and services using Meethaq credit cards.

The EPP scheme allows Meethaq customers to avail a wide range of goods and services through credit cards and conveniently repay over a period of 12 months. All Meethaq credit cardholders are eligible for this offer at participating merchant outlets.

Sulaiman Al Harthy, deputy chief executive officer – Islamic Banking, said: “Meethaq is delighted to launch the EPP that enhances value and enables customers using Meethaq credit cards to avail a wide range of products and services. Meethaq credit cards, which spell convenience and security, are a preferred mode of payment in Oman. The EPP scheme reiterates Meethaq commitment to promoting secure card payment in Oman.”

The scheme is available for purchases of OMR150 and above. Each time a purchase is made through EPP, the available limit in the credit card account will be reduced by an amount equal in value to the purchase. However, with every monthly payment, the available balance will increase by that amount. The bank will collect payment as per standing instructions given by customers.

The campaign is aimed at motivating a change in consumer behaviour towards secure and convenient card payment.

The EPP allows customers to avail of goods and services and pay conveniently over a period of 12 months. Customers are not required to provide any additional documents and the scheme ensures affordability for high-end products and services.

Meethaq offers three types of credit cards - Standard, Titanium and Hafawa Priority banking card. All cards offer a host of unmatched Shari’a-compliant services and rewards. The cards are based on the concept of Ujrah and no interestbased fee is charged on the card.

Meethaq cards provide convenience and flexibility for customers in their day-to-day transactions at shopping malls, restaurants or holidays abroad.

Packed with an array of features and benefits, the Chip and PIN cards are designed to make everyday purchases and payments secure and convenient. Offering greater flexibility and convenience, the cards provide access to the bank’s largest network of branches, ATMs and CDMs across Oman.

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 compliance certification by the Sharia Supervisory Board and is created in line with the guidelines of the Central Bank of Oman.