Meethaq Islamic Banking Group, the Islamic arm of Bank Muscat to support joint business opportunities in the Islamic banking field.

The agreement will allow KFH-Bahrain to offer Islamic finance products such as treasury transactions, trade finance and capital markets business in the Sultanate of Oman with a primary focus on sukuk and syndications.

The MoU was signed between Abdulhakeem Alkhayyat, the managing director and CEO of KFH-Bahrain and Sulaiman Al Harthy, the group general manager Meethaq Islamic Banking Group.

The deal will particularly focus on WASI, a liquidity management product launched by KFH-Bahrain.

Through this partnership, Meethaq Group is seeking to expand its presence in the Sultanate of Oman by opening new branches across the Sultanate and offering various banking products and services that are compliant with Islamic law.

Alkhayyat said: "KFH-Bahrain is always pleased to collaborate with Islamic financial institutions as a key facilitator for the development and growth of the industry to meet future requirements."