The board of directors of Bank Muscat and Meethaq Sharia’a supervisory board held a joint meeting to review the performance of Meethaq Islamic Banking, tools of Sharia’a control and the framework of the assessment of legal obligation.
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The meeting was led by Sheikh Khalid bin Mustahail al Mashani, chairman of Bank Muscat and Sheikh Dr Ali Qaradaghi, chairman of Meethaq Sharia’a supervisory board, according to a press statement.
The meeting, which was held at Bank Muscat head office also discussed steps to strengthen the regulatory capital requirements and diversification of investment portfolios.
Soon after the meeting of the two boards, the Meethaq Sharia’a supervisory board led by Qaradaghi also held its second meeting of 2019, which was attended by the board members and senior officials.
The board reviewed the performance of Meethaq during the current financial year and also discussed a number of new products and audit results on Meethaq assets, sukuk and the dividend distribution mechanism.
The board also reviewed the Sharia’a compliance of Meethaq products as well as the educational and awareness activities being conducted.
The Meethaq Sharia’a supervisory board discussed many important topics to consolidate the leading position of Meethaq.
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