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Meethaq forum to host prominent personality at bank muscat on 26 May

MUSCAT, 24 May 2015 - Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, the flagship bank in the Sultanate, is hosting the third Majlis Meethaq evening, a unique social forum for interaction with prominent personalities sharing inspirational aspects of their life and career as well as views and perspective on economy and important social and cultural issues. Hatim Al Taie, founder and Chief Editor of Al Roya Press and Publishing, will address the gathering on Tuesday 26 May at Bank Muscat head office.

Bank Muscat, as part of its corporate social responsibility initiatives, launched Majlis Meethaq as a monthly gathering in which a well- known economic, social, religious or cultural persona having influence on Omani society from the Sultanate or abroad is hosted. The interaction between the guest and the audience is aimed at focusing on aspects of the presenter's personal life, success in career and views on issues facing the country and community, in order to motivate the audience, especially youth, to draw valuable lessons from role models in society.

Sulaiman Al Harthy, Group General Manager – Islamic Banking, said: “Meethaq is proud to initiate the Majlis Meethaq gathering aimed at presenting successful role models to community and highlighting their achievements to motivate and inspire citizens, especially youth, to attain success in life. The discussions are aimed at enlightening the audience to take cues from the challenges and obstacles faced by the guest in making crucial decisions in life which led to success. Meethaq aims to develop Majlis as an ideal platform to interact with prominent personalities and learn from their experiences in achieving success in life."

Al Harthy added: “Meethaq is focused on developing as a benchmark Islamic financial institution on both the local and regional levels. Within just two years of commencing 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 but also plays a key role in raising awareness and educating people on key aspects of Islamic banking and finance."

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.

As the pioneer of Islamic banking in Oman, Meethaq stands out for its independent Shari'a Supervisory Board, separate capital allocation from shareholders' money, unique risk management tools, complete fund segregation, separate books of account, core banking system which supports Islamic banking operations, stand-alone Islamic banking branches and proper profit distribution mechanism among investment account holders/depositors. The adoption of AAOIFI standards (Accounting & Auditing Organisation for Islamic Financial Institutions) distinguishes Meethaq Islamic banking practices in terms of standardisation of products and services.