MUSCAT: In line with its vision ‘To serve you better, everyday’ and commitment to offering an attractive value proposition for customers, Meethaq Islamic Banking from Bank Muscat has announced the availability of an attractive Easy Payment Plan for the benefit of all its credit cardholders. The Meethaq Easy Payment Plan is available at 0% profit rate on high-value purchases made using a credit card. It allows customers to purchase goods and services and then pay conveniently for them over a period of 12 months. Customers are not required to provide any additional documents and the scheme ensures affordability for high-end products and services.

Meethaq currently offers the following credit cards to its customers – Hafawa Visa Signature Credit Card, Meethaq Titanium Mastercard Credit Card, Meethaq Standard Mastercard Credit Card and the Meethaq Lulu Credit Card. The cards are based on the concept of Ujrah, which is free from any interest-based charges. Meethaq Credit Cards offer a large number of unmatched Shari’a compliant services and rewards which include convenience and flexibility for customers in performing day-to-day transactions at shopping malls, restaurants or during travel. In particular, the Easy Payment Plan scheme will help Meethaq customers to avail a wide range of goods and services and allow them to make the repayments over a period of 12 months conveniently, in accordance with Shari’a principles. 

Meethaq Credit Cardholders are eligible for this scheme at over 160 participating merchant outlets from various consumer good business segments which include jewelry, electronics, home furniture and medical service segments. Customers making a purchase at any of the participating merchants should request for the Easy Payment Plan at the time of being billed for the transaction. Each time a purchase is made through the Easy Payment Plan, the available credit limit in the credit card account will be reduced by an amount equal in value to the purchase amount. However, with every monthly instalment payment, the available balance will increase by that amount. The bank will collect payments as per the standing instructions given by customers. The Easy Payment Plan is also aimed at motivating a change in consumer behaviour and more details about the plan including the minimum eligible amount are available at https://www.meethaq.om/en/cards/Pages/epp.aspx. 

Meethaq has adopted the best practices in Islamic banking and finance worldwide to combine a robust model, which protects customers and complements the Islamic banking industry. Every Meethaq product goes through the process of Shari’a compliance certification by the Shari’a Supervisory Board and is created in line with the guidelines of the Central Bank of Oman.