Wednesday 01 / May / 2024
MUSCAT: Meethaq Islamic Banking from Bank Muscat reaffirmed its commitment to advancing the Islamic Banking Industry and various economic sectors in the Sultanate of Oman through a comprehensive suite of banking services and financial solutions. The recent participation of Meethaq Islamic Banking in the “Finance and Insurance” Forum, organized by Oman Chamber of Commerce and Industry (OCCI) in the Wilayat of Sohar, Al Batinah North, showcased its dedication to supporting SMEs and introducing them to essential services and facilities provided by financing and insurance service providers, banks, and commercial institutions. The event, was held under the patronage of His Excellency Abdullah bin Salim Al Salmi, the CEO of the Capital Market Authority (CMA) and with the presence of esteemed officials and specialists in the insurance and finance sectors.
The forum placed a strategic focus on various areas, designed to offer SMEs diverse services and facilities through a fair that featured 20 insurance and financing service providers. This initiative aimed to encourage SMEs to develop their businesses while increasing their awareness about risk management and insurance-focused matters. Agreements and memorandums of understanding were signed between the service providers and SMEs, fostering collaboration and support. The forum also touched upon various subject matters introduced to the SMEs through the presentations delivered by the service providers. Those subjects included innovative financing, the importance of consolidated documents for health insurance, key insurance products for business owners, financing services through group financing platforms, financing opportunities across banks, and the main challenges faced by emerging companies. During the forum, Meethaq Islamic Banking highlighted the role of Meethaq in supporting Oman’s economy through providing products and financing solutions to individuals, MSME’s and corporate in various sectors through a presentation delivered by Buthaina Salim Al Aufi, Unit Head, Meethaq Large Corporates. Moreover, the forum included interactive discussions with experts and specialists in financing and insurance on enhancing the present and future of the Islamic Banking sector. These conversations served as a platform to explore innovative financing and insurance solutions, empowering SMEs to execute and expand their commercial projects in alignment with their needs and aspirations.
Ali bin Ahmed Al Lawati, Assistant General Manager, Meethaq Corporate Banking, said:” At Meethaq, we take profound satisfaction in our successful partnership with various institutions from the public and private sectors. Our pivotal role in enhancing Oman’s Islamic Banking landscape contributes significantly to shared objectives aimed at strengthening the Sultanate’s economy. We consistently emphasize our unwavering commitment to excellence in the Banking sector, highlighting our institution’s 12-year track record of achievements. This tenure has earned us trust from a multitude of customers, thanks to our diverse financing products and solutions tailored for MSME’s corporate and individual needs.”
Beyond its active participation in diverse events, forums, and conference, Meethaq Islamic Banking continues to offer a suite of Sharia-compliant banking services and facilities tailored to meet the evolving needs of its customers. These services undergo rigorous Sharia compliance certification by the Sharia Supervisory Board and adheres to the guidelines set forth by the Central Bank of Oman. Meethaq Islamic Banking offers its individual customers diverse products and facilities including variants of savings and current accounts, children saving accounts, Meethaq saving plan, financing solutions such as personal financing, car financing, home financing, travel finance, education finance, marriage finance, and personal goods financing. Similarly, Meethaq caters to corporates and SMEs by providing a diverse range of services and products, encompassing current accounts, project financing, short-term and long-term products for capital growth like commercial financing, “Ijarah” financing, working capital financing, and Sharia-compliant wide-scope projects. Furthermore, strengthening its branch network, Meethaq operates 28 branches and 5 dedicated MSME service centers spread across the Sultanate, complemented by over 50 ATMs and CDMs. Customers can also complete their transactions easily and conveniently through more than 800 ATMs and CDMs of Bank Muscat.
In recognition of its stance of excellence in the Banking sector, Meethaq Islamic Banking has received several awards during the past few years from regional and global highly ranked institutions. Meethaq was awarded The Most Innovative Islamic Window for SMEs Award by “Annual Global Outlook”, the Oman’s Most Trusted Brand Award for Islamic Banking from “Apex Media”, the Leading Islamic Banking Brand Award From The Banker”, the Leading Islamic Banking Brand Awards by “Global Brands”, the Market Leader Award for Islamic Banking by “Euromoney”, multiple prestigious awards from “Islamic Finance News”, The Best Islamic Bank Award in Oman, and a number of awards from “Global Islamic Finance” including the GIFA Market Leadership Award for 2023 and the Best Islamic Digital Bank Award in Oman.
