Reaffirming its ongoing commitment to advancing the Islamic Banking Industry, Meethaq Islamic Banking from Bank Muscat, recently participated in the second edition of the Islamic Banking Conference “Themar”, organized by The Arabian Stories in Muscat. The event was held under the patronage of His Highness Sayyid Numair Salim Al Said, and brought together senior officials, researchers, and experts from across the industry. The conference highlighted the latest global trends and technological advancements shaping Islamic banking, emphasizing top-tier services and solutions. During the event, Meethaq was recognized with the “Best Digital Application in Islamic Banking Award” presented to Ali Ahmed Al Lawati, Assistant General Manager – Meethaq Corporate Banking.
The conference featured a series of presentations and panel discussions addressing key topics such as the role of digital banking in reshaping Islamic financial services through the integration of digital platforms, artificial intelligence applications, and application programming interfaces (APIs). Light was also shed on the Shari’a governance and performance indicators, the role of endowment (Waqf) funds in financing social and development initiatives, mechanisms to activate Shari’a-compliant investment funds, and recent developments in Islamic banking in Oman. During the event, Ali Ahmed Al Lawati delivered a presentation on trade finance Transactions, where he highlighted Meethaq’s contributions to developing Islamic financial markets amid ongoing economic transformations. He emphasized on Meethaq’s commitment to offering innovative Shari’a-compliant financial solutions tailored to meet the diverse needs of both individuals and businesses.
The event also included a number of panel discussions, serving as a platform for professionals and stakeholders to exchange ideas, expertise, share knowledge and propose strategies to advance the Islamic banking sector. Among the participants was Issa Khalfan Al Suqri, Unit Head – Sharia Compliance and Monitoring at Meethaq Islamic Banking, who took part in the session titled “Open Banking and Digital Transformation: Shaping the Future of Islamic Banking.” He highlighted the vital role digital technology plays in enhancing the efficiency of Islamic banking services, promoting financial inclusion, and broadening the reach of services to underserved segments of society, thereby contributing to the achievement of long-term sustainable development goals. He also addressed the challenges and opportunities associated with implementing open banking within the Islamic banking framework.
Commenting on Meethaq’s participation, Ali Ahmed Al Lawati, Assistant General Manager – Meethaq Corporate Banking, said: “We are pleased that Meethaq was recognized with the Best Digital Application in Islamic Banking Award. This recognition reflects our continuous efforts to drive innovation and foster successful partnerships with both public and private entities, which contribute to shared goals and support the growth of the national economy. Meethaq places great importance on such partnerships by actively participating in forums and conferences that discuss the advancement of Islamic banking in the Sultanate and key trends shaping the industry.
Beyond its contributions to conferences and industry forums, Meethaq continues to offer a wide portfolio of Shari’a-compliant financial solutions tailored to meet the diverse needs of its customers. These solutions comply with the directives of the Central Bank of Oman and are subject to rigorous Shari’a supervision and oversight by Meethaq’s Sharia Supervisory Board, ensuring full compliance with Islamic principles. Meethaq provides individual customers with a comprehensive range of deposit products, including savings accounts, current accounts, children savings accounts, and the Meethaq Savings Plan. It also offers financing solutions covering personal finance, auto finance, housing finance, and financing for travel, education, marriage, and personal purchases. For institutional customers and small and medium-sized enterprises (SMEs), Meethaq delivers tailored financial solutions such as current accounts, project finance, short- and long-term facilities, Ijarah-based commercial financing and large-scale project funding. To further enhance customer experience, Meethaq has upgraded its core banking systems and expanded its digital banking services across multiple platforms, ensuring a seamless and secure journey for both individual and corporate customers.
Meethaq operates the largest network of Islamic banking branches in the Sultanate, with 32 branches across various governorates and over 60 ATMs/CDMs. Meethaq customers also benefit from access to over 900 ATMs and CDMs operated by Bank Muscat, allowing convenient access to a wide range of banking solutions and services.
