Ijarah Financing

Ijarah financing that allows the customer to enjoy the utility and benefits of Shari’a-compliant asset in exchange of an agreed rental payment to Meethaq as the lessor who owns the asset​. At the end of the Ijarah contract, Meethaq will sell the assets to the customer and hence the ownership of the asset shall be fully transferred to the customer. Ijarah Financing can be availed to acquire plant, machinery, equipment, vehicles etc. The Ijarah contract can be performed on a specific and readily available asset while Forward Ijarah can be performed to finance an asset to be developed in the future provided the asset’s specifications are described in details and agreed between the contracting parties.

Benefits:
  • World-class Shari’a compliant solutions.
  • Higher finance limit.
  • Competitive rates, lower payments and longer financing tenure of up to 7 years.
  • Flexibility to avail and service the finance through the largest integrated branch network offered by Meethaq in Oman.

FAQs:

Visit your nearest branch or contact us at smemeethaq[a]bankmuscat.com for further details.​​​​​


Diminishing Mus​​haraka for Purchase/Construction/Renovation

Diminishing Musharaka (DM) is a product that allows the customer to be a partner of Meethaq and appear as a joint owner of the asset based on the concept of “Shirkat Al-Milk”. Under this mode of financing, Meethaq enters into an agreement with the customer to purchase an asset selected by the customer under joint ownership. The asset is then placed in the possession of the customer for their use, where they use their own share, and also Meethaq’s share under a lease agreement with Meethaq. As the name ‘Diminishing’ indicates, the share of Meethaq in this Musharaka asset will be purchased by the customer from time to time based on the Diminishing Musharaka agreements. This share is divided into a number of units, where the customer keeps on purchasing them out through the periodical installments, according to the agreed terms. The gradual reduction of Meethaq’s share means a corresponding increases in the share of the customer in the asset. After the final settlement, the entire ownership of the asset is transferred to the customer where he becomes the sole owner of the asset. DM can be used to finance purchase or construction of industrial/commercial properties or any other fixed assets.

Benefits:
  • World-class Shari’a compliant solutions.
  • Higher finance limit.
  • Competitive rates, lower payments and longer financing tenure of up to 7 years.
  • Convenient approval process.
  • Flexibility to avail and service the finance through the largest integrated branch network offered by Meethaq in Oman.

FAQs:

Visit your nearest branch or contact us at smemeethaq[a]bankmuscat.com for further details.​​​​​


Working Capital - Murabaha

Focus on the growth of your business with Meethaq’s working capital financing, the most-customer friendly finance plan for buying local or imported equipment or goods.

Benefits:
  • World-class Shari’a compliant solutions.
  • Financing up to 80% of the goods’ value.
  • Competitive rates, lower payments and longer financing tenure of up to 5 years.
  • Easy, convenient and quick approval process with minimal documentation.
  • Flexibility to avail and service the finance through the largest integrated branch network offered by meethaq in Oman.

FAQs:

Visit your nearest branch or contact us at smemeethaq[a]bankmuscat.com for further details.​​​​​


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