Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, as part of its commitment to raise awareness on Islamic banking and finance, organised a lecture on ‘Financial Planning – Islamic & Social Aspects’ by Sheikh Salim bin Ali Al Namani, Lecturer and Mentoring Expert at Sultan Qaboos University. The lecture held at Bank Muscat head office was attended by dignitaries and a large turnout of public and private sector representatives, youth and students.

Sheikh Salim highlighted the importance of financial planning in light of the Islamic religion and society and called for developing a savings habit early in life. Spending on basic necessities is justifiable while people should avoid wasteful expenditure, especially on luxury goods, and thereby maintain financial stability, he added. People should prioritise their spending on housing, education, marriage as well as charity which are prescribed in Islamic tenets, Sheikh Salim noted.

Sulaiman Al Harthy, Deputy Chief Executive Officer – Islamic Banking, said: “Meethaq is proud to facilitate yet another opportunity to raise awareness on important aspects of Islamic banking and finance. Meethaq has been instrumental in hosting a series of high profile conferences and awareness programmes on Islamic banking, to familiarise people with the core aspects of Islamic finance. As the pioneer of Islamic banking in Oman, Meethaq is committed to offering unique learning opportunities which reaffirm the bank’s focus on Islamic banking development in Oman.”

Meethaq is the leading Islamic financial services provider in the Sultanate with many achievements contributing to the growth and development of the Sultanate’s economy. Meethaq extends support to all key economic sectors in the Sultanate and is focused on developing as a benchmark Islamic financial institution in Oman and the region. Within just three years of operations, Meethaq has attained the leading position in the Islamic banking industry in Oman in terms of financing receivables, branch network, products and services, IT infrastructure and human resources development. Meethaq not only provides benchmark Islamic financial solutions to support the country’s development but also plays a key role in raising awareness and educating people on important aspects of Islamic banking and finance.

Meethaq offers a full suite of Islamic banking products and services, including savings and current account, home and auto finance, credit card, mobile and internet banking. The bank has invested in staff, systems and controls to ensure the service is delivered in a fully Shari’a compliant manner.

As the pioneer of Islamic banking in Oman, 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.