(MENAFN- Muscat Daily) Muscat- The Sharia'a supervisory board of Methaq Islamic Banking led by Sheikh Dr Ali Qaradaghi, chairman, held the second meeting of 2018 at Bank Muscat head office.
The meeting, which was attended by board members, reviewed the first quarter of 2018 financial results, new products and contracts related to treasury and liquidity management as well as agreement for cooperation with takaful insurance companies.
Sulaiman al Harthy, deputy chief executive officer – Islamic banking at Bank Muscat said, 'In line with the bank's dynamic vision 'To serve you better, everyday', Meethaq is focused on developing as a benchmark for Islamic banking and finance in Oman and the region.
The Meethaq Sharia'a supervisory board discussed many important topics to consolidate the leading position of Meethaq. Within five years of operations, Meethaq has consolidated its leadership position, recording many achievements contributing to the growth and development of the sultanate's economy.'
Meethaq maintains leadership position in the Islamic banking industry in Oman in terms of financing receivables, branch network, products and services, IT infrastructure and human resources. As part of its focus to expand operations across the sultanate and offer world-class Islamic banking experience to customers, Meethaq has widened its state-of-the-art branch network to 19.
Meethaq's financing receivables rose to RO970mn in 2017 compared to RO855mn in 2016, recording an increase of 13.5 per cent.
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