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Meethaq business forum in Nizwa highlights sukuk investment avenues

​MUSCAT, 19 May 2015 – Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, hosted a business forum in Nizwa on Tuesday (19 May) under the auspices of H.E Dr Shaikh Khalifa bin Hamed al Saadi, Governor of Dakhiliyah, to highlight investment opportunities from Islamic bonds or sukuk. Innovative Islamic banking products and services offered by Meethaq were also spotlighted at the forum addressed by prominent Shari'a experts.

Sulaiman Al Harthy, Group General Manager – Islamic Banking, said: “Meethaq is proud to host the business forum as part of initiatives reflecting the bank's commitment to responsible banking aimed at contributing to the country's development. Meethaq has taken the lead to engage people at all levels in order to familiarise them with the fundamentals of Islamic banking and finance. Against the backdrop of Oman's strategic development initiatives as part of the economic diversification programme, new avenues exist for Islamic banking and finance vis-à-vis the investment opportunities in Oman. The forum reiterates Meethaq's commitment to develop a robust Islamic banking industry in Oman, offering attractive investment opportunities, including sukuk, in a manner consistent with the principles of Shari'a law and serving the interests of community and business."

Dr. Saleh al Talib, economist from Muscat Securities Market, made a presentation on the developmental role of Islamic bonds and the possibility to take advantage of them in the Sultanate. He also spoke about the importance and investment opportunities offered by various Islamic instruments. Sheikh Ibrahim al Sawafi from the Ministry of Awqaf and Religious Affairs highlighted Islamic banking from the Shari'a perspective, the problems and challenges and the role of Shari'a committees while Dr. Salim al Dhahab made a presentation on Islamic banking products.

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 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.