Meethaq home finance product works under the principles of diminishing musharaka. All products of meethaq are designed according to the guidelines set down by the central bank of Oman for Islamic banking and they also undergo a thorough process of shari'a compliance certification by our shari'a supervisory board.

• Meethaq home finance is based on diminishing musharaka where the relationship between meethaq and the customer is that of co-owners in the property and not of lender-borrower
• The initial financing provided by meethaq is applied to acquire a share in the property and not to provide a loan
• The customer's periodic payment is for acquiring meethaq's share in the property, whereas a portion of the payment is rental for the customer's use of the property
• These payments do not constitute a repayment of a loan with interest since it does not involve an exchange of cash for a greater amount of future cash

There are two agreements involved in meethaq home finance transaction:

1. Musharakah agreement (to create joint ownership between partners)
2. Rental payment agreement (customer pays rentals for using meethaq’s share in the property)

• Copy of national identity card for Omanis and copies of resident card & passport with visa page, for resident expatriates
• Two photographs of the applicant
• Salary transfer letter in favor of Meethaq Islamic banking - Bank Muscat
• Declaration of other liability (if any)
• Valuation report/copy of mulkiya (title deed) and krooki
• Address proof (water, electricity bills etc.)​
• Valuation report, copy of Mulkiya (Title Deed) and Krooki
• Sales and Purchase agreement - for purchase
• Consultancy letter and Contractor agreement - for Construction
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Meethaq’s car finance works under the principle of murabaha. All products of meethaq are designed according to the guidelines set down by the central bank of Oman for Islamic banks and they also undergo a thorough process of shari'a compliance certification by our shari'a supervisory board.

Meethaq car finance product is based on the concept of murabaha. murabaha is a kind of sale, where the seller discloses the cost of the assets along with the profit. meethaq, instead of giving a loan to the customers, purchases the car as per customers’ request and sells to them at a cost plus agreed profit.

• Under meethaq car finance, the subject matter of the contract is the car, and not money against money
• The bank buys the car according to the customer's specification and sells the same to the customer against deferred repayments by concluding a murabaha sale contract

• Copy of national identity card for Omanis and copies of resident card & passport with visa page, for resident expatriates
• Valid Omani driving license

Meethaq personal finance product is based on the concept of sale & lease back, where the customer initially enters into a legitimate sale transaction with the bank where the risk and reward of the asset is transferred to the bank and afterwards the bank leases the asset back to the customer. All products of meethaq are designed according to the guidelines set down by the central bank of Oman for Islamic banking and they also undergo a thorough process of shari'a compliance certification by our shari'a supervisory board.

• Copy of national identity card for Omanis and copies of resident card & passport with visa page, for resident expatriates
• Two photographs of the applicant
• Salary transfer letter in favor of Meethaq Islamic banking - Bank Muscat
• Declaration of other liability (if any)
• Valuaiton report, Copy of mulkiya and Krooki
• Address proff (water bill, electricity bill, etc,)

Meethaq personal goods finance works under the principle of murabaha. All products of meethaq are designed according to the guidelines set down by the central bank of Oman for Islamic banks and they also undergo a thorough process of shari'a compliance certification by our shari'a supervisory board.

• Meethaq personal goods finance product is based on the concept of murabaha
• Murabaha is a kind of sale, where the seller discloses the cost of the assets along with the profit
• Meethaq, instead of giving a loan to the customers, purchases the goods as per customers’ request and sells to them at a cost plus agreed profit

• Under meethaq personal goods finance, the subject matter of the contract are the goods, and not money against money
• The bank buys the goods according to the customer's specification and sells the same to the customer against deferred repayments by concluding a murabaha sale contract

• Copy of national identity card for omanis and copies of resident card & passport with visa page, for resident expatriates

• Furniture
• Electronics
• Boats
• Personal computers
• Building materials (manufacturing items not included)
• Machinery
• Car spare parts
• Equipment and tools
• Motorcycles & jet skies

Meethaq travel finance works under the principle of service ijarah (ijarah tul khidmat). All products of meethaq are designed according to the guidelines set down by the central bank of Oman for Islamic banks and they also undergo a thorough process of shari'a compliance certification by our shari'a supervisory board.

• Meethaq travel finance product is based on the concept of service ijarah (ijarah tul khidmat)
• Meethaq shall lease the travel services through an operator and shall sub – lease the required service
• Meethaq shall work as a distributor of the service and shall provide the travel facility to its customers.

• Under meethaq travel finance, the subject matter of the contract are the travel services and not money against money
• The bank will arrange travel services according to the customer's requirement and shall provide the same to the customer through travel operator against deferred repayments by concluding a service ijarah contract.

• Copy of national identity card for omanis and copies of resident card & passport with visa page, for resident expatriates
                       
• Salary transfer letter in favor of Meethaq Islamic banking - bank muscat
• Declaration of other liability (if any)
• Address proof (water bill, electricity bill, etc,)
• Travel quotation from authorized travel operator favoring meethaq islamic banking

Meethaq Marriage Finance works under the principle of Service Ijarah (ijarah tul khidmat). All products of meethaq are designed according to the guidelines set down by the Central Bank of Oman for Islamic banks and they also undergo a thorough process of Shari’a compliance certification by our Shari’a Supervisory Board.

Meethaq Marriage Finance product is based on the concept of Service Ijarah (ijarah tul khidmat). Meethaq shall lease the marriage services through an operator/wedding service provider and shall sub–lease the required service.

Under Meethaq Marriage Finance, the subject matter of the contract are the marriage services and not money against money. The bank will arrange marriage services according to the customer’s requirement and shall provide the same to the customer through marriage operator/marriage service provider against deferred repayments by concluding a service ijarah contract.

• Copy of National Resident ID
• Salary Transfer Letter in favour of Bank Muscat - Meethaq Islamic Banking
• Declaration of other liability (if any)
• Address proof (Water bill, Electricity Bill etc.)
• Marriage related service Quotation from authorized Marriage related services provider favoring Meethaq Islamic banking

• Wedding/event management/planning service provider
• Hotel/Resort and wedding halls
• Catering and Food provider
• Photography/Videography
• Saloon, Spa and Boutique
• Flower shop
• Other Shari’a complaint wedding services

Meethaq Education Finance works under the principle of Service Ijarah (ijarah tul khidmat). All products of Meethaq are designed according to the guidelines set down by the Central Bank of Oman for Islamic banks and they also undergo a thorough process of Shari’a compliance certification by our Shari’a Supervisory Board.

Meethaq Education Finance product is based on the concept of Service Ijarah (ijarah tul khidmat). Meethaq shall lease the education services through an operator service provider and shall sub–lease the required service.

Unlike conventional education finance,Meethaq Islamic banking does not provide cash for availing educational services. The bank will arrange education services according to the customer’s requirement and shall provide the same to the customer through education service providers and shall provide the same to the customers against deferred payments by concluding a Service Ijarah contract.

• Copy of National Resident ID/Passport with valid visa page
• Salary Transfer Letter in favour of Meethaq Islamic Banking - Bank Muscat
• Declaration of any other liability (if any)
• Address proof (Water bill, Electricity Bill etc.)
• Education quotation from authorized Education operator favoring Meethaq Islamic banking

• Schools
• Colleges
• Universities
• Vocational Institutes
• Professional Institutions

• Copy of National Resident ID/Passport with valid visa page
• Salary Transfer Letter in favor of Meethaq Islamic Banking - Bank Muscat
• Declaration of other liability (if any)
• Address proof (water bill, electricity bill etc.)
• Medical quotation from authorized Medical and Health services provider favoring Meethaq Islamic Banking

• All necessary medical treatments and surgery operations
• All treatments to bring back an organ to its normal form
• All treatments to remove abnormalities from the body

Meethaq Medical Finance works under the principle of Service Ijarah (ijarah tul khidmat). All products of Meethaq are designed according to the guidelines set down by the Central Bank of Oman for Islamic banks and they also undergo a thorough process of Shari’a compliance certification by our Shari’a Supervisory Board.

Unlike conventional medical finance, Meethaq Islamic Banking does not provide cash for availing medical services. The bank will arrange medical services according to the customer’s requirement and shall provide the same to the customer through medical service providers. The customer will make deferred payments to the bank for the service availed by concluding a Service Ijarah contract.

Through any Meethaq branch across the Sultanate.

Under Ikram you can apply for:

• Home Finance
• Auto Finance
• Personal Goods Finance
• Travel Finance
• Education Finance
• Marriage Finance
• Credit Card ​
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