At the 1st edition of the Islamic Banking Conference Awards “Themar”
As part of its commitment to advancing the Islamic Banking Industry in the Sultanate of Oman, Meethaq Islamic Banking from Bank Muscat was recently recognized as the best institution in Islamic Banking for 2024 by The Arabian Stories.The award was presented at the inaugural edition of Islamic Banking Conference “Themar,” held in the Governorate of Muscat, under the patronage of His Excellency Abdulsalam Mohammed Al Marshdi, Chairman of the Oman Investment Authority, and attended by esteemed officials and specialists in the Islamic banking sector. During the event, His Excellency presented the award to the Meethaq’s Management Team.
The first edition of “Themar” Conference placed strategic emphasis on key areas such as Islamic financial transactions, economic stability, and issues concerning recent developments in the Islamic banking sector in the Sultanate. During the event, Ali Ahmed Al Lawati, Assistant General Manager, Meethaq Corporate Banking, delivered the main presentation that highlighted the sector’s growth trajectory locally, regionally, and globally focusing on both opportunities and challenges withinthe Islamic finance sector as well as highlighting Meethaq’spivotal role in developing Islamic financial markets in terms of providing finance and capital market instruments. Additionally, the conference featured panel discussions for stakeholders and experts in Islamic banking to exchange views, share insights, and propose strategies for enhancing the current state and future outlook of the sector. During the panel discussion, Sami Bait Rashid, Assistant General Manager, Meethaq Personal Banking, contributed insights on “Islamic Finance in the Era of Digital Transformation: Visions for Achieving Sustainable Development.” He underscored the crucial role of Islamic finance in driving qualitative transformations, with a focus on the sector’s role in developing various industries in the upcoming phase. Additionally, the discussion highlighted the expected contribution of the Islamic finance in line with Oman Vision 2040, emphasizing its strategic importance in fostering sustainable development and driving economic growth in the Sultanate.
On this occasion, Ali Ahmed Al Lawati, Assistant General Manager, Meethaq Corporate Banking, said: “We are pleased about recognizing Meethaq as the best institution in Islamic banking and we take pride in Meethaq’s successful partnershipswith various governmental and private institutions, which contributes to achieving mutual goals and interests andstrengthening the national economy. Meethaq places a strongemphasis on fostering partnerships by actively participating in various activities, seminars, and conferences. Through these platforms, Meethaq highlights its contributions to the success of the Islamic banking sector in the Sultanate and engages in valuable discussions on the sector’s latest developments.”
From his side, Sami Bait Rashid, Assistant General Manager, Meethaq Islamic Banking added: “Meethaq Islamic Banking has had a successful journey spanning over 12 years, with a track record of outstanding achievements in providing Sharia-compliant banking and financing solutions, primarily aimed at meeting the needs of individual and institutional customerswhile enhancing the customer base and enriching their banking experience.”
Beyond its active participation in diverse events, forums, and conference, Meethaq Islamic Banking continues to offer a comprehensive 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 provides individual customers with a wide range of products and facilities including various types 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 29 branches 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 won the Oman’s Most Trusted Brand Award for Islamic Banking from “Apex Media”, Oman’s Best Domestic Islamic Bank from “Euromoney”, multiple prestigious awards from “Islamic Finance News”, The Best Islamic Bank Award in Oman, and a number of awards from “Global Finance” including the Global Islamic Finance Award (GIFA) for Market Leadership and the Best Islamic Digital Bank Award in Oman.
