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Meethaq
Term Deposit
Overview

Earn healthy returns on your investment without compromising on your beliefs by depositing your funds for specific periods in Meethaq Term Deposit. We help you to make your hard earned money grow through the Shari’a compliant Term Deposit product. As your investment partner, we ensure that you get the most attractive profits on your Term Deposits.

Shari’a Basis

Meethaq Term Deposit is based on the concept of Mudarabah (a kind of partnership) where the customer enters into a relationship based on Mudarabah with the Bank. Under this relationship, the customer is an Investor (Rab-ul-Maal) and the Bank is the Manager (Modarib) of the funds deposited by the customers. The Bank allocates the funds received from the customers to a deposit pool. Funds from the pool are utilized for various Shari’a-compliant investment activities of the bank.

  • Option to choose the period of your investment from 1 month to 6 years
  • Minimum amount of deposit is Omani Riyals 1,000/- only
  • Profit at competitive rates credited to your account at Maturity of the Deposit
  • Profit rates announcement at the beginning of each month for the month passed
  • Pre-mature termination of the deposit is allowed
  • Hassle free account opening process with minimum documentation

How Meethaq Term Deposit is Shari’a Complaint?

What is the relationship between the Depositor and Meethaq?

Will there be any penalty in case the customer pre-matures his investment?
How to Apply

Open Meethaq Term Deposit by visiting a nearest Meethaq branch with a copy of your identity card (in case of Omani citizens, please bring original) and resident card and passport (in case of resident expatriates, please bring original). The Personal Banker will take the required information face to face and input in the system to open the Term Deposit.

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