MUSCAT : Meethaq Islamic Banking from Bank Muscat participated in the 3rd Zakat Conference & Exhibition, organized by the Ministry of Endowments and Religious Affairs, held from 23 to 25 September at the Sultan Qaboos Youth Complex for Culture and Entertainment in Salalah, Dhofar Governorate. During the event, Meethaq shared insights on a range of topics covering Sharia’a governance in Islamic banking, activation of zakat committees, and community culture.

On the opening day, Dr. Mohamed Akram, Deputy Chairman of the Sharia’a Supervisory Board at Meethaq Islamic Banking, presented a paper titled “Governance in Islamic Banking and its Application in Zakat Management”. He highlighted the processes adopted by Islamic financial institutions (zakat entities) to ensure compliance with Sharia’a principles, stressing the importance of developing a robust governance framework to safeguard the soundness and resilience of Islamic financial institutions.

The paper also covered several key areas, including: the significance of Sharia’a governance as a vital field within Islamic finance (including Takaful), the need for a clear and comprehensive regulatory framework to guide sectoral growth and development, and the four essential elements of governance: efficiency, independence, confidentiality, and consistency. Further discussions covered the role of Sharia’a Supervisory Boards within the governance structures of Islamic financial institutions, operational aspects of these institutions, the Sharia’a governance framework in Malaysia, challenges facing supervisory boards, as well as governance principles in zakat and ensuring fairness in distribution.

On the third day of the conference, Dr. Akram delivered another paper on “Malaysia’s Experience in Zakat Management and Governance”. The presentation showcased Malaysia’s success in transforming zakat management from a traditional collection and distribution process into an institutionalized, integrated system built on governance, transparency, and the smart use of modern technologies—making it a global model to follow. The paper addressed institutional frameworks, legislation and regulations, governance and transparency, modern technologies, and integration with the banking sector.

Meethaq Islamic Banking’s role as a Strategic Partner in the conference reflected its vision of promoting Islamic values, strengthening collaboration with stakeholders across both public and private sectors, and raising awareness of zakat as a powerful tool for achieving social justice and enhancing community solidarity.

Across the three days, the conference explored various topics, including governance and accounting standards in zakat fund management, the role of women in zakat committees, Sharia’a compliance and professional competence of zakat administrators, the civilizational identity of zakat institutions, community culture, contemporary Fiqh of zakat, and case studies highlighting Omani experiences in charitable and zakat initiatives alongside international best practices.