Meethaq Sharia’a board reviews growth strategy

Muscat - 

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, held its third Sharia’a supervisory board meeting of the year at Bank Muscat head office.

The meeting was attended by the Sharia’a board chairman and Sulaiman al Harthy, deputy chief executive officer – Islamic banking at Bank Muscat. The board evaluated the performance and reviewed new products and services in the pipeline as well as measures to enhance performance, a press release said.

Harthy said, “The Meethaq Sharia’a supervisory board discussed many important topics to consolidate the leading position of Meethaq Islamic Banking. Meethaq is focused on developing as a benchmark for Islamic banking and finance in Oman and the region. Within four years of operations, Meethaq has marked the milestone of RO1bn in assets.”

He said, in a relatively short period of four years since its inception in 2013, Meethaq has succeeded in emerging as the leading Islamic banking services provider in Oman.

“Presently, Meethaq accounts for over 33 per cent market share in terms of assets and is the market leader in Islamic banking in Oman. The Meethaq Sharia’a supervisory board has made valuable contributions in establishing Meethaq as the leading Islamic banking service provider in Oman,” Harthy added.

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 world-class Islamic banking experience to customers, Meethaq has widened its state-of-the-art branch network to 17.

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