Meethaq Islamic Banking, the Islamic banking arm of Bank Muscat, has recorded total assets exceeding RO2.08 billion as of December 2025, further strengthening its position as the largest Islamic banking institution in Oman. The bank’s strong financial performance highlights its growing role in the sultanate’s expanding Islamic finance sector.
According to figures released by the bank, Meethaq’s net financing portfolio reached RO1.658 billion, while customer deposits increased to RO1.69 billion by the end of 2025. The results reflect steady growth in both financing activities and customer confidence in the bank’s Sharia-compliant banking services.
Officials stated that Meethaq continues to contribute significantly to the development of Oman’s banking industry through innovative Islamic financial solutions designed to meet the evolving needs of individuals and businesses. The bank has maintained a strong focus on customer satisfaction, digital innovation, and compliance with Islamic banking principles.
The bank highlighted its achievements during a media engagement session held at the Grand Hormuz Hotel in Muscat on Wednesday. During the event, Meethaq presented an overview of its services for retail and corporate customers, investment products, and initiatives related to corporate social responsibility and community development.
Speaking at the session, Ali bin Ahmed al Lawati, Assistant General Manager of Meethaq Corporate Banking, said the bank has played a major role in shaping the Islamic banking landscape in Oman since its establishment. He noted that Meethaq remains committed to delivering value-driven financial solutions tailored to the needs of customers while strengthening trust in Islamic banking services.
Sami Bait Rashid, Assistant General Manager of Meethaq Personal Banking, said the bank’s recent milestones were achieved through a clear strategic vision focused on innovation and customer excellence. He added that Meethaq will continue improving its services and introducing new solutions to maintain its leadership position in the sector.
Meethaq currently operates an extensive banking network across Oman, with 32 branches and 64 ATMs and cash deposit machines. Customers also have access to more than 900 Bank Muscat machines nationwide, ensuring convenient and accessible banking services throughout the country.
The bank provides a wide range of retail banking services, including financing and investment products, savings plans, and wealth management solutions. Customers can also access everyday banking services such as savings and current accounts, debit and credit cards, motor takaful, and the premium Hafawa banking programme designed for high-net-worth individuals.
Its financing portfolio includes home finance, auto finance, personal finance, education finance, and travel finance, all structured in line with Islamic banking principles. Meethaq also offers a variety of debit and credit cards tailored to different customer lifestyles, providing flexibility, broad acceptance, and exclusive benefits.
In the investment sector, Meethaq recently launched the Meethaq Equity Fund, a Sharia-compliant open-ended investment fund registered with Oman’s Financial Services Authority. The fund aims to achieve long-term capital growth and sustainable returns through investments in Sharia-compliant equities across regional markets.
Industry experts believe Meethaq’s continued expansion, strong financial growth, and focus on innovation will further strengthen its position as a leading Islamic banking institution in Oman and support the overall growth of Islamic finance in the region.