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Meethaq widens network with state-of-the-art branch in Muttrah

MUSCAT, 25 July 2016 – Widening its network across the Sultanate, Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, opened a state-of-the-art branch in Corniche, Muttrah. The formal inauguration of the 14th branch was attended by dignitaries and senior bank officials.

Sulaiman Al Harthy, Deputy Chief Executive Officer –– Islamic Banking, said: “Meethaq is proud to open the new branch in Corniche as part of its focus to expand branch operations across the Sultanate and thereby offer world-class Islamic banking experience to customers. The banking sector in Oman is witnessing the consolidation of Islamic banking and the state-of-the-art branch network reflects Meethaq's focus to redefine Islamic banking operations in Oman. The new branch is designed to create a unique ambience and banking environment in line with the Meethaq brand values of true Partnership, Transparency and Trust. Meethaq plans to expand the branch network as well as launch new products and services to complement the unique Islamic banking experience."

Meethaq strives to fulfill the needs of customers with innovative Shari'a based products and the extension of the branch network is yet another proof of its commitment and dedication to meet customer expectations for Islamic banking.

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 with innovative Shari'a based products and is well positioned to provide Islamic financial expertise 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. 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