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Tuesday, 1 April 2014

Oman: Meethaq signs ‘Bancatakaful’ pact with Al Madina Takaful

MUSCAT — Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, and Al Madina Takaful, Oman’s first takaful company, signed an agreement to provide insurance products (Bancatakaful) for Meethaq customers. The agreement facilitating a bouquet of Shari’a compliant services was signed by Sulaiman Al Harthy, Group General Manager — Islamic Banking, and Saleh bin Nasser Al Riyami, Director of Al Madina Takaful. The signing ceremony at the bank’s head office was attended by senior Meethaq officials, Gautam Datta, CEO, and Usama Al Barwani, Deputy CEO of Al Madina Takaful.

Sulaiman Al Harthy said: “Meethaq is proud to be associated with Al Madina Takaful to provide Shari’a based insurance protection to customers. We will work together to offer unique Islamic insurance products. Meethaq strives to fulfil the needs of customers with innovative products and remains committed to offering a world-class Islamic banking experience.”

Meethaq offers a full suite of Islamic banking products. The Shari’a compliant products and services include savings account, current account, home finance, auto finance, credit card, mobile banking etc.

Saleh al Riyami said: “This is an important milestone for us and we look forward to this association with Meethaq to provide customers with the best in class Shari’a compliant products and services.” Al Madina Takaful is one of Oman’s largest insurance companies and the first takaful provider in Oman.

The company offers Shari’a compliant products and services for retail and business segments, including home takaful, project takaful, family takaful, personal takaful, medical takaful, motor takaful, marine takaful and fire takaful.

(Oman Daily Observer / 31 March 2014)
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