Reinforcing its leadership in Sharia-compliant banking and financial solutions across both retail and corporate customers, Meethaq Islamic Banking from Bank Muscat has been awarded as the “Best Islamic Bank in Oman 2025” title at the Euromoney Private Banking Awards. This accolade reflects Meethaq’s significant role in offering innovative Sharia-compliant banking services and facilities tailored to the diverse needs of its customers.
On this occasion, Ali Ahmed Al Lawati, Assistant General Manager – Meethaq Corporate Banking, expressed his pride in the ongoing global recognition Meethaq continues to receive. He noted: “We are deeply honored by this recognition, which reflects Meethaq’s pioneering role in the industry 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 the Meethaq’s Sharia-compliant financial solutions, while maintaining a commitment to excellence and innovation. Meethaq will continue upholding its ongoing dedication to delivering distinguished and forward-thinking Islamic banking solutions aligned with customers’ aspirations and financial goals.”
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 which Meethaq provides to its retail customers include deposit products such as savings accounts, current accounts, children’s savings accounts, and Meethaq’s structured savings plans. On the financing offerings, 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 provides 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.
Beyond product innovation, Meethaq has invested heavily in infrastructure and digital channels, operating the largest branch network in the Islamic banking sector in Oman, with 32 dedicated branches and over 50 dedicated ATMs/CDMs across the Sultanate, supplemented by access to Bank Muscat’s wide network of 900 tough points (branches, service centers and digital channels), ensuring customers convenience and easy accessibility. Reinforcing its pioneering role in developing Islamic capital markets, Meethaq has recently launched a sukuk programme for its individual and institutional customers, in addition to issuing the Meethaq Equity Fund to help them benefit from investments in the equity markets. Digital engagement is equally robust, with a rapidly growing base of customers using internet and mobile banking, and contactless debit and credit card services.
Meethaq’s leadership has been repeatedly acknowledged by numerous regional and global accolades, including 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.
