Meethaq extends home finance for Al Hamra project in Ras Al Hamra

23/02/2016 08:48 AST

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, and Oman Property Development company signed a memorandum of understanding (MoU) to facilitate attractive Meethaq home finance for Al Hamra Classic Home project in Ras Al Hamra. Sulaiman al Harthy, Deputy Chief Executive Officer — Islamic Banking, and Abbas bin Abdullah al Ajmi, Chairman of Oman Property Development company, signed the MoU at the bank’s head office.

Sulaiman al Harthy said: “Committed to sustainable social and economic development, Meethaq is happy to be associated with Al Hamra project to provide innovative home finance in line with Sharia principles. The real estate sector is a major component of the national economy and Meethaq Islamic Banking is committed to extending a helping hand for easy access to Sharia based home finance.”

Abbas bin Abdullah al Ajmi said: “Oman Property Development company is proud to join hands with Meethaq Islamic Banking in extending attractive home deals. The co-operation between the two institutions will benefit citizens to fulfil their dream homes in Al Hamra project comprising 15 residential units.”

Meethaq offers Sharia based home finance to suit everyone’s needs with simplified documentation and processing across the network of branches in Oman. The residential segment of the real estate sector in Oman is witnessing buoyant trends in light of the growth in population as well as the developing economy. The deregulation granting property ownership rights to GCC nationals and expatriates has also attracted Oman as an investment destination.

Oman Daily Observer