Meethaq Sharia Board reviews performance, growth strategy

Muscat: The Bank Muscat Board of Directors and Meethaq Sharia Supervisory Board led by respective chairmen Shaikh Khalid bin Mustahail Al Mashani and Sheikh Dr Ali Qaradaghi held a meeting to review the 2017 performance and growth strategy for 2018 of Meethaq, the pioneer of Islamic banking in Oman.
The Meethaq Sharia Supervisory Board also held the fourth meeting of 2017 to review the fourth quarter performance and growth strategy for 2018. The two meetings were held at Bank Muscat Head Office in the presence of board members and top Management Team members.
The Meethaq Sharia Supervisory Board meeting reviewed 2017 performance and new products and services in the pipeline for 2018, the Sukuk programme, finance for corporate projects as well as audit report for the fourth quarter of 2017.
Sulaiman Al Harthy, Deputy chief executive officer – Islamic Banking, said: “The Meethaq Sharia 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 crossed a milestone of over RO 1 billion in assets and consolidated its leadership position, recording many achievements contributing to the growth and development of the Sultanate’s economy. The Meethaq Sharia Supervisory Board has made valuable contributions in establishing Meethaq as the leading Islamic banking service provider in Oman.”
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 world-class Islamic banking experience to customers, Meethaq has widened its state-of-the-art branch network to 17.
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.