Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has received the final approval from the Central Bank of Oman (CBO) to begin full-fledged operations. Coinciding with the auspicious occasion of the Prophet’s birth anniversary, Meethaq operations will begin on 21 January at the dedicated Al Ghubra branch.
Sulaiman Al Harthy, Group General Manager – Islamic Banking, said: “In compliance with all regulatory requirements, Meethaq has been granted the operational licence by CBO. Meethaq will operate as a bank within a bank with RO 150 million capital at its disposal which will be appropriated as and when required in step with the business growth opportunities.”……………………………………….Full Article: Source