MUSCAT : As part of its ongoing efforts to enhance specialized knowledge and capacity building in the field of endowments (waqf), Meethaq Islamic Banking from Bank Muscat announced its collaboration with the Division of Islamic Studies at Sultan Qaboos University (SQU) to deliver a specialized workshop program titled “The Contemporary Investment of Waqf.” The programme, designed for Meethaq employees, was held at the Bank’s head office in Airport Heights and delivered by Dr. Majid Mohammed Al Kindi and Dr. Ahmed Salim Al Kharusi from SQU, with the participation of specialists from Meethaq. This initiative aims to strengthen applied knowledge, facilitate the exchange of expertise, and reinforce best practices in waqf investment and management in compliance with Islamic Shari’a principles.

The programme forms part of Meethaq Islamic Banking’s broader efforts to enhance employees’ understanding of the Shari’a and regulatory frameworks related to waqf management, investment, and financing, thereby contributing to enhanced institutional performance. It focused on key Sharia and regulatory frameworks governing waqf, while highlighting best practices in investment and financing to support sustainability and maximize the social and economic impact of endowments.

In addition, the programme addressed advanced topics in waqf investment, including the Shari’a and legal perspective of Waqf, its historical forms, as well as funding mechanism and their role in supporting its development, in addition to contemporary Waqf investment practices. The workshop also addressed the establishment of ownership conditions in Waqf funds and their role in enabling innovating in Islamic banking products.

This initiative represents the first step in a broader strategic collaboration between Meethaq and SQU, aimed at developing future joint training programmes, as well as advancing cooperation in research and professional development to support innovation and sustainability in the waqf and Islamic finance sector.

On this occasion, Ali Ahmed Al Lawati, Assistant General Manager of Meethaq Corporate Banking, stated: “The collaboration with Sultan Qaboos University reflects Meethaq’s commitment to strengthening academic and professional partnerships that contribute to the development of national talent and the advancement of innovation in Islamic banking and waqf management, in line with the highest professional standards. This training programme marks an important milestone in Meethaq’s journey to establish best practices in waqf management and investment. It also underscores our unwavering commitment to equipping our workforce with specialized knowledge that integrates Shari’a authenticity with institutional excellence, thereby enhancing our ability to deliver sustainable, Shari’a-compliant financial solutions.”

Waqf (endowment) is considered one of the most significant charitable financial instruments, based on the permanent dedication of assets such as real estate, cash, or investment holdings, with their proceeds directed toward religious, educational, social, and broader charitable causes. Waqf assets are distinguished by their inalienability, as they cannot be sold or inherited, ensuring the continuity of their benefits over time. Classified as a form of ongoing charity (sadaqah jariyah), waqf generates continuous returns that support the community, with assets being invested and reinvested to sustain their impact.

Meethaq Islamic Banking is a pioneer in offering banking products and services that comply with Islamic Sharia principles. In recognition of its role, Meethaq has received numerous local, regional, and international awards, including Best Islamic Bank in Oman 2025 from Euromoney, Best Islamic Digital Bank in Oman 2025 under the Finance Derivatives Awards programme, and the Market Leadership at the Global Islamic Finance Awards 2025. It also received the Pioneer in Digital Islamic Banking Award for 2025 at OER Live DX Oman.