Meethaq to finance Dar Al Tomouh poultry farm project in Nizwa

MUSCAT: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, signed an agreement to provide Islamic project finance for Dar Al Tomouh company to set up the Sultanate’s first-of-its-kind commercial contract chicken farming project in the wilayat of Nizwa.
Sulaiman al Harthy, Deputy Chief Executive Officer of Meethaq Islamic Banking, and Naveen Pasuparthy, CEO of Dar Al Tomouh company, signed the agreement at the bank’s head office in the presence of dignitaries and senior officials of the bank and Dar Al Tomouh company.
The project with an annual production capacity of 3.74 million kg live chicken will have a far reaching impact on improving the living standards and generating employment opportunities for farm entrepreneurs.
Sulaiman al Harthy said, “Meethaq is delighted to partner with Dar Al Tamouh project contributing to food security and economic diversification in the Sultanate.
The support for the project comes in line with Meethaq vision to bring the benefits of Islamic banking to all strata of society. Meethaq has been closely involved with important projects contributing to economic diversification and development of the country. Since its inception four years ago, Meethaq has extended financial partnership to a number of projects in various fields, which reflect the Meethaq commitment to support the progress and development of Oman.”