Translate this page

Monday, January 27, 2014

Forum highlights key Islamic banking issues

Oliver Agha, Partner, Head of Islamic Finance & Mena Practices, Holland & Knight - Abu Dhabi, addressed the seminar at Bank Muscat head office, attended by Islamic banking representatives in the Sultanate. Agha shared his insights on 'Islamic finance risks and how to avoid them' as well as 'Core legal risks, documentation issues and standardisation' in Islamic banking.

Sulaiman Al Harthy, Group General Manager - Islamic Banking, said: "Meethaq is proud to facilitate yet another opportunity to raise awareness on important Islamic banking aspects. As the pioneer of Islamic banking in Oman, Meethaq is committed to offering unique learning opportunities. The event reaffirms the bank's focus on Islamic banking development in Oman."

Sahar Askalan said: "We are proud to join hands with Meethaq and organise this seminar which has shed light on important aspects of Islamic banking. We thank Bank Muscat for this initiative in promoting Islamic banking in Oman."

Meethaq has been instrumental in hosting a series of high profile conferences and awareness programmes on Islamic banking. The notable events include the Oman Islamic Economic Forum; workshop on 'Islamic Liquidity Management and Capital Market' in association with International Islamic Financial Market (IIFM); 'Women in Business' forum and a seminar on 'In-Country Value Addition' addressed by Dr Mahathir Mohamad, former Prime Minister of Malaysia. Meethaq also hosted seminars across Oman, addressed by Shariah and Islamic banking experts, to familiarise people with the core aspects of Islamic finance. 

Meethaq is well positioned to provide Islamic financial expertise to diverse segments and thereby promote the good of society as a whole.

Branch network
The state-of-the-art Meethaq branch network in Oman reflects Bank Muscat 's focus to redefine Islamic banking operations in Oman. The Meethaq branches are designed to create a unique ambience and banking environment in line with the Meethaq brand values of true Partnership, Transparency and Trust. 

Meethaq plans to open branches in all major cities and towns across Oman. Meethaq strives to fulfill the needs of customers with innovative Shari'a based products and the branch network reflects its commitment to meet customer expectations for Islamic banking.

Bank Muscat is the first commercial bank in Oman to obtain CBO approval and launch Islamic banking window operations. The bank has invested in staff, systems and controls to ensure the service is delivered in a professional, segregated and fully Sharia compliant manner.
Meethaq offers a full suite of Islamic banking products. The Sharia compliant products and services include savings account, current account, home finance, auto finance, credit card, mobile banking etc.

Best practices
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 Sharia compliance certification by the Sharia Supervisory Board and is created in line with the guidelines of the Central Bank of Oman. 
As the pioneer of Islamic banking in Oman, Meethaq stands out for its independent Sharia Supervisory Board, separate capital allocation from shareholders' money, unique risk management tools, complete fund segregation, separate books of account and core banking system which supports Islamic banking operations.

No comments:

Post a Comment