Meethaq posts Q1 results

14/05/2017 16:26 AST

Meethaq Islamic financing receivables rose to OMR 902 million of 31 March 2017 compared to OMR 665 million in the same period of 2016. Islamic banking customer deposits amounted to OMR 780 million as of 31 March 2017 compared to OMR 678 million reported for the same period in 2016.

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, held the second Meethaq Shari'ah Supervisory Board meeting of the year led by Sheikh Dr. Ali Qaradaghi, Chairman, at Bank Muscat head office. The board reviewed new products and services in the pipeline as well measures to enhance customer service.

Sulaiman Al Harthy, Deputy Chief Executive Officer - Islamic Banking, said, "The Meethaq Shari'ah Supervisory Board discussed many important topics to consolidate the leading position of Meethaq Islamic Banking. Meethaq is focused on developing as a benchmark for Islamic banking and finance in Oman and the region. Within four 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. The Meethaq Shari'ah Supervisory Board has made valuable contributions in establishing Meethaq as the leading Islamic banking service provider in Oman."

Meethaq Islamic financing receivables rose to OMR 902 million of 31 March 2017 compared to OMR 665 million in the same period of 2016. Islamic banking customer deposits amounted to OMR 780 million as of 31 March 2017 compared to OMR 678 million reported for the same period in 2016.

CPI Financial