Meethaq Shari’a Supervisory Board Members discuss the future plans for better delivery of services

Meethaq Shari’a Supervisory Board Members discuss the future plans for better delivery of services

Meethaq Islamic Banking from Bank Muscat convened its first Shari'a Supervisory Board meeting of 2024 at the Bank's Head Office. The meeting was attended by esteemed members of the Shari'a Supervisory Board (SSB), including Sheikh Dr. Abdullah bin Mubarak Al Abri, the Board Chairman, alongside Shamzani Mohammed Hussain, General Manager of Meethaq Islamic Banking, and the Shari'a Supervisory and Audit management members.

The session commenced with a comprehensive presentation delivered by Meethaq’s team, covering Meethaq’s performance in the preceding year and outlining its strategic initiatives for 2024. During the meeting, the SSB also discussed and scrutinized into various details and reports pertaining to Meethaq’s transactions. The Shari'a Supervisory Board also deliberated on various topics, including the implementation of a structured mechanism for seeking the SSB’s guidance and resolutions effectively. In addition to this, the SSB reviewed and accredited the financial data of the financial year ended 31st December 2023, the Shari’a annual certificate of separating Meethaq’s capital, the consolidated annual Shari’a-based audit report, and the amendments made within a number of legal documents and restructured financing transactions. During the meeting, the SSB also discussed effectiveness of the Temenos Islamic Core Banking system (T24) which Meethaq has recently launched. The SSB regular