MUSCAT : Amid the continued growth and transformation of Oman’s banking sector, Meethaq Islamic Banking from Bank Muscat stands out as a leading model contributing to the advancement of Islamic banking in the Sultanate. This progress is driven by the delivery of innovative financial solutions that fully comply with Sharia principles. Meethaq continues to enhance its products and services to meet the evolving needs of diverse customer segments, with a strong focus on financial inclusion and sustainable economic development. Meethaq is committed to transparency, innovation, Sharia oversight and governance that further strengthen its position as a trusted and preferred banking partner.

As part of efforts to highlight recent developments, Meethaq Islamic Banking organized a media engagement session for journalists and media representatives from various outlets. The event, held at the Grand Hormuz Hotel in Muscat, aimed to showcase the latest updates and introduce its comprehensive range of Islamic banking products and services. The session also provided a platform for open dialogue, enabling direct engagement between media representatives and Meethaq officials.

During the session, Meethaq presented its leading role in advancing Islamic banking through a detailed overview of its services for individuals and corporates. The presentation highlighted key financial solutions, investment funds managed by Meethaq, and initiatives supporting corporate social responsibility and community development.

Meethaq’s financial highlights underscore its strong market position, with total assets reaching RO 2.08 billion, net financing at RO 1.658 billion, and customer deposits at RO 1.69 billion, up to December 2025. These figures reflect its solid performance and growing role in the Islamic banking sector in the Sultanate.

On this occasion, Ali bin Ahmed al Lawati, Assistant General Manager, Meethaq Corporate Banking, said: “We are pleased to host a distinguished group of journalists and media professionals, whom we consider key partners in our success. This engagement reflects Meethaq’s commitment to transparency and open engagement with the media, while providing an opportunity to showcase our achievements in delivering innovative Islamic banking solutions. Since its inception, Meethaq has played a key role in shaping the Islamic banking landscape through products and services that create real value for customers. We remain committed to strengthening trust by offering best-in-class financial solutions tailored to the needs of individuals and corporates. While continuing to reinforce our position through the adoption of best practices and ongoing development. We also extend our sincere appreciation to all media representatives for their vital role in highlighting the country’s economic and social development.”

Sami Bait Rashid, Assistant General Manager, Meethaq Personal Banking, stated: “Meethaq has achieved significant milestones over the past period, driven by a clear vision and a strategy centered on innovation and customer excellence. Through this engagement, we aim to communicate our latest developments and enhance awareness of our wide range of products and services for individuals and corporates. We have expanded our branch network across the Sultanate to provide accessible, Sharia-compliant banking solutions. We value the trust our customers place in us and remain committed to strengthening it through continuous development and innovation; while maintaining our leading role in advancing Oman’s banking sector.”

Sharia-Compliant Standards

All Meethaq products are governed by the principles of Islamic Sharia under the oversight of the Sharia Supervisory Board, which plays a vital role in ensuring that all products and services are fully compliant with Sharia rules and principles. This oversight reinforces transparency and strengthens customer trust. Drawing on its specialized expertise, the Board continuously reviews and develops financial solutions to keep pace with the evolving Islamic banking sector and meet market needs, while upholding the highest standards of governance and compliance.

The Sharia Supervisory Board convenes regularly to review procedures, operations, transactions, contracts, and agreements executed by Meethaq, issuing fatwas, decisions, and recommendations accordingly. The Board comprises scholars and specialists in Islamic jurisprudence and contemporary economics, responsible for reviewing and approving products, services, activities, investments, operations, and transactions prior to their implementation. In addition, post-implementation audits are conducted through the Shari’a Compliance and Audit Department to ensure appropriate execution in accordance with the Sharia rulings, resolutions, and fatwas issued by the Board.

Innovative Banking Solutions for Individuals

Meethaq operates an extensive branch network across Oman, with 32 branches and 64 ATMs and CDMs, in addition to access to over 900 Bank Muscat machines, ensuring seamless and convenient banking services.

Retail banking services include financing and investment solutions, savings plans in addition to investments and wealth management solutions that are offered to the highest standards and at competitive rates. These, on top of every-day banking needs including: savings and current accounts, debit and credit cards, motor takaful, as well as premium Hafawa banking services that is designed for high-net-worth individuals seeking a premium banking experience. Financing solutions include: home finance, auto finance, personal finance, education and travel financing, all compliant with Islamic principles.

Advanced Payment Experience

Meethaq offers an integrated suite of debit and credit cards designed to meet the needs of diverse customer segments and lifestyles, combining flexibility, wide acceptance, and exclusive benefits. The portfolio includes a range of options such as Hafawa Visa Signature debit card, Hafawa Privilege Visa Debit Card, Standard Visa debit card and Niswa Visa debit card, as well as Hafawa Visa Signature credit cards and Visa Platinum and Gold credit cards.

Meethaq also offers the Meethaq Lulu Credit Card, which delivers added value for shoppers, particularly for everyday purchases and grocery spending, through exclusive benefits and offers that enhance convenience and savings.

In addition, Meethaq provides tailored solutions for the corporate sector through corporate credit cards that support efficient expense management and enhance business flexibility.

Recently, Meethaq launched the national debit card “Maal”, introduced by the Central Bank of Oman, as part of its commitment to providing secure and innovative payment solutions that enhance the national payments ecosystem and customer experience.

Strategic Partnerships for Business Growth

Meethaq plays a vital role in supporting corporate growth by providing banking services and financing solutions to key sectors such as manufacturing, agriculture and fisheries, mining, logistics, education, research, and innovation. It has contributed to the establishment and growth of numerous companies, positioning itself as a key financier for major projects aligned with national economic objectives.

It offers a comprehensive suite of services for corporates and SMEs, including working capital finance, project finance, trade finance solutions such as letters of credit and guarantees, as well as investment solutions like Mudaraba-based deposits and sukuk.

Meethaq takes pride in the trust it has earned from individuals and institutions, reflected in the growing demand for its Sharia-compliant banking solutions. Its offerings are designed to keep pace with evolving market needs, with a strong focus on financing projects that contribute to the national development and economic growth. This includes supporting food security initiatives and financing real estate and housing projects that help provide suitable living solutions for the community.

Meethaq also provides a wide range of corporate banking services, including current and call accounts, corporate purchase cards, and value-added services such as financial transfers, cheque collection and clearing, digital banking solutions, payroll systems, and foreign exchange services. All products and services are structured in accordance with Sharia principles through contracts such as Murabaha, Musharaka, Ijara, Wakala, and others.

Advanced Technologies for Greater Efficiency

Meethaq continues to support Oman’s digital transformation in line with Oman Vision 2040 by delivering innovative and accessible financial solutions. It has made significant investment in advanced technologies and modern banking platforms to enhance user experience, security, and operational efficiency.

Recent developments include enhancements to KYC services, improved password security, expansion of digital payment solutions including Apple Pay, simplified digital account opening, and instant transfers to Pakistan, India, Sri Lanka, Bangladesh, Philippines and Egypt.

Strong Commitment to the Community

In the area of social responsibility, Meethaq continues to support national initiatives aligned with Islamic values, including its annual Zakat campaign in collaboration with the Ministry of Endowments and Religious Affairs. It provides secure digital solutions that enable zakat payments anytime and anywhere.

It also supports various community programs in charity and sustainable development, reinforcing its role as a responsible partner in Oman’s development.

Promising Investment Opportunities

In the investment space, Meethaq recently launched the “Equity Fund,” a Sharia-compliant open-ended fund registered with the Financial Services Authority in Oman. The fund aims to achieve capital growth and sustainable returns by investing in Sharia-compliant equities across regional markets.

Crowning a Journey of Excellence

Since its inception, Meethaq Islamic Banking has established itself as a leader in delivering high quality Sharia-compliant banking services and solutions. It has received numerous prestigious local, regional, and international awards, including Best Islamic Investment Bank in Oman from Islamic Finance News (IFN), Market Leadership Award within Global Islamic Finance Awards (GIFA), Best Islamic Digital Bank in Oman from Global Finance, and the Pioneer in Islamic Digital Banking from Oman Economic Review Magazine, among others.