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Bank Muscat Meethaq workshop highlights zakat fund investment

MUSCAT, 02 June 2015 – Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, hosted a workshop on investment opportunities for zakat funds and inheritance wealth under the auspices of Shaikh Muhanna bin Saif Al Lamki, Governor of North-Batinah Governorate, at Majan Auditorium in Sohar. The workshop addressed by prominent Shari'a experts and businessmen highlighted innovative Islamic banking products and services to utilise zakat funds and inheritance wealth.

Sulaiman Al Harthy, Group General Manager – Islamic Banking, said: “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 and inheritance wealth, in compliance with Shari'a laws. Meethaq Islamic Banking offers investment avenues for zakat funds and inheritance wealth in a manner consistent with the principles of Shari'a law, serving the interests of community and business. The workshop reflects the bank's commitment to responsible banking aimed at contributing to the country's development. 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.