Meethaq Sharia Board reviews performance, growth strategy

The meeting reviewed the Islamic banking performance, new Meethaq investment products and contracts related to treasury and liquidity management

MUSCAT: The Meethaq Shari’a Supervisory Board led by Sheikh Dr Ali Qaradaghi, Chairman, held the fourth meeting of 2018 at Bank Muscat Head Office, attended by the board members.

The meeting reviewed the Islamic banking performance, new Meethaq investment products and contracts related to treasury and liquidity management.

Sulaiman Al Harthy, Deputy Chief Executive Officer, Islamic Banking, said: “In line with the bank’s dynamic vision ‘To serve you better, everyday’, Meethaq is focused on developing as a benchmark for Islamic banking and finance in Oman and the region. The Meethaq Sharia Supervisory Board discussed many important topics to consolidate the leading position of Meethaq. Within five years of operations, Meethaq has consolidated its leadership position, recording many achievements contributing to the growth and development of the Sultanate’s economy.”

Meethaq maintains leadership position in the Islamic banking industry in Oman in

terms of financing receivables, branch network, products and services, IT infrastructure and human resources. As part of its focus to expand operations across the Sultanate and offer worldclass Islamic banking experience to customers, Meethaq has widened its state-of-the-art branch network to 20.

As the pioneer of Islamic banking in Oman, Meethaq recognises the immense investment prospects and potential that Oman offers and is committed to supporting strategic national development initiatives in line with Oman’s Vision 2040 economic blueprint.

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