Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has launched an innovative Shari’a compliant current account which has evoked good response.
Meethaq current account is based on the fundamental Islamic principle of Qard (interest free loan) whereby the customer is the lender and the bank is the borrower. Qard (interest free loan) is a contract whereby the principal amount deposited by customers is guaranteed to be repaid by the bank on demand………………………………………..Full Article: Source