Meethaq Islamic Banking, a division of Bank Muscat, has been honoured with three awards at the Islamic Finance News (IFN) Awards, recognising its prominent role in Oman's Islamic banking sector. The bank received top accolades as the "Best Islamic Investment Bank in Oman," "Best Islamic Corporate Bank in Oman," and "Best Islamic Retail Bank in Oman."
These awards underscore Meethaq’s diverse suite of Sharia-compliant financial products and services, catering to individual clients, corporate entities, and investment customers. The recognition highlights the bank's commitment to providing innovative Islamic banking solutions aligned with regional regulatory frameworks and economic objectives.
Salim bin Said al Shanfari, Chief Representative Officer of Meethaq’s Dubai Representative Office, accepted the awards on behalf of the bank. Commenting on the achievement, Sami Bait Rashid, Assistant General Manager of Meethaq Personal Banking, noted that the multiple accolades serve as an international endorsement of the bank’s efforts to expand its Sharia-compliant offerings. Rashid emphasized that the awards reflect both customer trust and the bank’s dedication to contributing to Oman's national economy, aligned with the country’s Vision 2040 development strategy.
The Best Islamic Investment Bank award specifically recognises Meethaq’s investment products, including the Meethaq Equity Fund. This open-ended fund, registered with Oman’s Financial Services Authority, focuses on capital appreciation and long-term dividend income through investments in Sharia-compliant equities primarily listed on regional markets.
The corporate and retail banking awards highlight Meethaq’s broad portfolio of services tailored to individuals, businesses, and small and medium-sized enterprises (SMEs). These offerings include savings and current accounts, deposits, personal financing solutions, auto and home financing, and various other credit products designed to meet diverse customer needs.
The recognition from the IFN Awards underlines Meethaq’s status as a leading Islamic financial institution in Oman, reflecting both its strategic growth and continued innovation in the Islamic banking sector.