(MENAFN - Muscat Daily) Muscat- Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, in recognition of outstanding achievements, has won the Critics' Choice Best Islamic Retail Banking window in Oman 2017 award.
Sulaiman al Harthy, deputy chief executive officer – Islamic banking at Bank Muscat, received the prestigious award at the ceremony held in Dubai in the presence of dignitaries and senior Islamic banking officials from the region.
Harthy said, 'Meethaq is proud to win the IRBA Critics' Choice award. Within four years of operations, Meethaq has consolidated its leadership position, recording many achievements contributing to the overall growth and development of the sultanate.
At a time when the role of Islamic finance is increasingly seen in supporting economic and social development, Meethaq remains committed to initiatives contributing to sustainable development in Oman.'
The Islamic Retail Banking Awards (IRBA) celebrate the success stories and best practices in Islamic banking and finance, with a view to strengthening the global Islamic financial services industry.
The IRBA award is hosted in association with Cambridge IF Analytica, a UK-based financial thinktank. The awards in different categories are based on a rigorous efficiency analysis conducted by Cambridge IF Analytica whereas the Critics' Awards are decided by a Critics' Choice Committee (CCC) comprising industry experts and academicians.
Within four years of operations Meethaq has crossed a milestone of over RO1bn in assets. Presently, Meethaq accounts for over 33 per cent market share in terms of assets and is the market leader in Islamic banking in Oman.