Meethaq Sharia’a board reviews 2019 performance
Muscat - The Sharia’a supervisory board of Meethaq Islamic Banking recently held its fourth meeting for 2019 under the leadership of Sheikh Dr Ali Mohiuddin Qaradaghi, chairman of the board. It was attended by the board members as well as senior officials from Meethaq, legal and internal audit teams.
The Sharia’a supervisory board meeting reviewed the performance of the Islamic banking window as well as new Meethaq investment products, according to a press release.
The Meethaq Sharia’a supervisory board discussed several compliance and Sharia’a audit-related matters and approved the annual training plans for 2020. The board reviewed compliance in the fourth quarter of 2019 and updated some work policies. It also reviewed the products and services offered by Meethaq in order to align it closely with current best practices in the Islamic banking sector.
Meethaq noted that organising these meetings is very important as it provide a sound legal opinion for the transactions, agreements and contracts made by the Islamic banking window. Meethaq maintains a 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 a world-class Islamic banking experience to customers, Meethaq currently has 20 state- of- the- art branches spread across different governorates of the sultanate.
Meethaq has adopted best practices in Islamic banking and finance from around the world so to combine a robust Islamic banking model, which protects customers and complements the banking industry.
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.
The board discussed Sharia’a audit-related matters and approved the annual training plans for 2020