Friday 01 / November / 2024
Muscat: In order to reinforce its commitment to advancing Islamic Banking practices, Meethaq Islamic Banking from Bank Muscat participated in the 2nd edition of Decrypt the Future of Islamic Banking Forum, which came this year under the title “Islamic Financing in Digital Transformation Era: Vision for Achieving Sustainable Development”. The event was organized under the patronage of H.E. Tahir bin Salim Al Amri, Executive President, CBO, and attended by a large number of officials and experts from the sector from different institutions.
The forum touched upon the recent updates and opportunities in Islamic Banking Sector and financial technology in Oman. Discussions included the role of Islamic financing in enhancing sustainable development, opportunities and challenges of digital era, and the profound impact of Islamic Banking services. During the forum, attendees got introduced to innovation in Islamic Banking products, Islamic Banking and social justice, Fintech and Islamic Banking and artificial intelligent. The forum served as a meeting ground for specialists in Islamic Banking and Finance in Oman fostering collaborative dialogues aimed at propelling sectoral growth.
About Meethaq’s participation, Sami Bait Rashid, Assistance General Manager, Meethaq Personal Banking, said: “We are pleased to participate in the second edition of this forum to contribute along with the other institutions in enhancing the role of Islamic Banking in the Sultanate. In Meethaq, we are keen to work towards achieving common goals and contributing in the development of national economy. As a pioneer in Islamic Banking sector, Meethaq will continue to enhance its leadership position by developing and offering the best Sharia-compliant services and products.”
Meethaq has been keen to participate in the events related to fostering the concept of Islamic banking, and the services provided through Islamic financing. Since its inception, Meethaq has been providing a comprehensive range of value-added products and services that undergo rigorous Sharia compliance certification by the Sharia Supervisory Board and adheres to guidelines set forth by the Central Bank of Oman. Meethaq’s adoption of AAOIFI standards (Accounting & Auditing Organisation for Islamic Financial Institutions) further distinguishes its Islamic banking practices.
Additionally, Meethaq provides a vast array of services including several variants of savings and current accounts customized to meet the needs of different customer segments, financing solutions such as home financing, car financing, personal goods financing, travel finance, education finance, marriage finance based on diminishing musharaka, murabaha financing and service Ijarah contracts. Meethaq also offers credit cards, debit cards, motor takaful solutions, trade finance solutions and Hafawa premium banking services. With the aim of offering a full range of Islamic financial offerings to cater to the different customer segments, Meethaq provides products suited to the needs of corporates and SMEs which include current account, project financing, working capital facilities and tailored financing solutions based on their business needs.
Meethaq Islamic banking has successfully strengthened its branch network over the past period, as it has 27 branches distributed across various governorates. Meethaq also has more than 50 ATMs and CDMs while customers can also complete their transactions easily and conveniently through more than 800 ATMs and CDMs by Bank Muscat in various governorates of the Sultanate.
Emphasizing its stance of excellence in the Baking sector, Meethaq Islamic Banking has received several -awards from regional and global highly ranked institutions. During the past few consecutive years, Meethaq was awarded Oman’s Most Trusted Brand Award for Islamic Banking from “Apex Media”, the Leading Islamic Banking Brand Award From “The Banker”, multiple prestigious awards from “Islamic Finance News”, The Best Islamic Bank Award in Oman, and a number of awards from "Global Islamic Finance" such as GIFA Market Leadership Award for 2023 and the Best Islamic Digital Bank Award in Oman. Due to the continuous regional and global recognition it receives, Meethaq Islamic Banking commits to upholding its pioneering leadership presence in the Sultanate’s Banking Industry.
