Sometimes, the business o​f the customer requires providing a bank assurance in the form of guarantee to a third party. Such a guarantee implies that Meethaq undertakes to pay a certain amount to the beneficiary (third party) upon the failure of the customer to meet certain obligations to that beneficiary. Meethaq provides Shari’a compliant services in providing guarantees to its customers such as credit study, documentation review etc.

  • Good service, outstanding product flexibility, and features.
  • Competitive rates.
  • Shari’a compliant products vetted and approved by distinguished scholars on Meethaq’s Shari’a Supervisory Board.
  • Meeting customer’s requirements in the best possible manner
Types of Guarantees:
  • Performance Guarantee
  • Bid Bond
  • Guarantee for advance payment
  • Security Deposit Guarantee
  • Open-ended Guarantee
  • Guarantees denominated in foreign currency


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

Letter of Credit

A vendor sometimes asks the customer to pay him through a documentary credit known as a Letter of Credit. This is a document issued by Meethaq to the seller (third party) undertaking that if the given documents showing certain goods needed by the customer are received in the agreed condition, the price of the goods will be paid.

Trade Servicing

If the transaction is financed entirely by the customer, the LC is based on Wakala (LC Wakala), and when it is financed entirely by Meethaq, the LC is based on Murabaha (LC Murabaha). In other cases where it is financed jointly by Meethaq and the customer, the LC is based on Musharaka (LC Musharaka). Besides this sort of LC, Meethaq also provides export bill collection facility for exporters.

Contract Financing

As mentioned above, Meethaq offers a wide range of Shari’a compliant products to SMEs for fulfilling their day-to-day business requirements. In addition Meethaq offers a complete package for supporting SMEs to successfully execute various contracts awarded from ministries, public sector entities and large corporates. The financing facilities are offered to SMEs against assignment of receivables of a specific contract on a case to case basis.

  • World-class Shari’a compliant solutions.
  • Financing up to 80% of the good’s value.
  • Competitive rates, lower payments and longer financing tenure as per the cash flow of the contract.
  • 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.


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

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