Meethaq Islamic Banking awarded the Pioneer in Digital Islamic Banking title
The event was held under the patronage of H.E. Suba' Hamdan Al Saadi, with the attendance of H.E Sheikh Salim Mustahail Al Mashani. Ali Ahmed Al Lawati, Assistant General Manager, Meethaq Corporate Banking, received the award on behalf of Meethaq Islamic Banking, alongside officials from various institutions and practitioners from the digital banking industry.
On this occasion, Ali Ahmed Al Lawati expressed his pride in the recognition Meethaq has gained with this prestigious award.
He stated: 'This accolade reaffirms Meethaq's pioneering role in the country's Islamic banking sector by offering comprehensive solutions that meet the varied requirements of customers. Meethaq has significantly contributed to reshaping the Islamic banking landscape in the Sultanate, evident in the trust and strong uptake from customers for Meethaq's Sharia-compliant financial solutions. Meethaq continues to uphold its excellence and innovation by delivering distinguished and forward-thinking Islamic banking solutions aligned with aspirations and financial goals of Meethaq's institutional and individual customers.'
Meethaq provides a full suite of Sharia-compliant banking products and financing solutions designed to serve the needs of individuals, SMEs, and corporate entities.
All offerings are subject to the regulatory framework of the Central Bank of Oman and undergo thorough Sharia audit and supervision by Meethaq's Sharia Supervisory Board to ensure full compliance with Islamic jurisprudence. The Sharia-compliant offerings for retail customers include deposit products such as savings accounts, current accounts, children's savings accounts, fixed deposits and Meethaq's structured savings plans.
On the financing front, Meethaq offers a range of Islamic finance facilities, including personal finance, auto finance, home finance, and funding for travel, education, marriage, and personal purchases. For its SME and corporate customers, Meethaq offers a variety of commercial banking solutions, including current accounts, project finance, short-term and long-term financing facilities, trade finance based on 'Ijarah', and large-scale project financing.
All these offerings are structured in accordance with Islamic financial principles. In addition, Meethaq has upgraded its digital platforms thereby individual and corporate customers may avail a suite of Sharia-compliant solutions and services, aiming to offer them an exceptional banking experience.
Meethaq operates the largest branch network in the Islamic banking sector in Oman, with 32 dedicated branches across the Sultanate.
It also maintains over 50 self-service machines for cash deposit and withdrawal.
In addition, Meethaq's customers benefit from access to over 900 ATMs and CDMs across Bank Muscat's network, offering seamless access to its banking services.
Meethaq's commitment to excellence in Islamic finance has been recognised over the years through numerous regional and global accolades.
These include the Best Islamic Investment Bank Award from Islamic Finance News, Best Digital Islamic Bank and the Market Leadership Awards from Global Finance, and Best Islamic Banking Window Award at the Thimar Excellence Awards by The Arabian Stories. These honours underscore Meethaq's position as a leading Islamic financial institution, firmly dedicated to offering Sharia-compliant banking and investment solutions that align with the evolving needs of both individual and institutional customers.
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