Meethaq supports forum on investment of Zakat funds

zakat fund

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, extended support and participated in a seminar organised in the wilayat of Al Hamra by the Zakat Forum Committee. H.E Shaikh Dr. Khalifa bin Hamed Al Saadi, Governor of Dakhiliyah, was the guest of honour at the seminar addressed by Shari’a experts who highlighted the investment opportunities for Zakat funds through innovative Islamic banking products and services. The advent of Islamic banking in the Sultanate is contributing to the growth and development of the banking sector and innovative products and services are required to meet evolving needs of the public, including utilisation of Zakat funds, in compliance with Shari’a laws, the seminar noted.

Issa bin Salim Al Riyami made a presentation highlighting the investment avenues offered by Meethaq Islamic Banking for Zakat funds in a manner consistent with the principles of Shari’a law and serving the interests of community and business. The participation and support to the seminar reflects the bank’s commitment to responsible banking aimed at contributing to the country’s development, he added.

Meethaq is the leading Islamic financial services provider in the Sultanate with many achievements contributing to the growth and development of the Sultanate’s economy. Meethaq extends support to all key economic sectors in the Sultanate. Meethaq strives to fulfill the needs of customers with innovative Shari’a based products and is well positioned to provide Islamic financial expertise to diverse segments and thereby promote the good of society as a whole.

Meethaq is focused on developing as a benchmark Islamic financial institution in Oman and the region. Within just three years of operations, Meethaq has attained the leading position in the Islamic banking industry in Oman in terms of financing receivables, branch network, products and services, IT infrastructure and human resources development. Meethaq not only provides benchmark Islamic financial solutions to support the country’s development but also plays a key role in raising awareness and educating people on important aspects of Islamic banking and finance.

Meethaq offers a full suite of Islamic banking products and services, including savings account, current account, home finance, auto finance, credit card, mobile banking and internet banking. Presently, Meethaq has 18 branches across the Sultanate and plans to expand the network as well as launch new products and services to complement the unique Islamic banking experience. The bank has invested in staff, systems and controls to ensure the service is delivered in a professional, segregated and fully Shari’a compliant manner.

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


Leave a Reply