Bank Muscat Wins Retail Bank Of The Year Award
bank muscat has won the Retail Bank of the Year Award by Asian Banking and Finance. The award ceremony held in Singapore honoured the very best of the region’s banks and financial institutions.
For several years, Asian Banking and Finance magazine (ABF) has been recognising the best performances of banking and finance institutions around Asia. This year, the ABF awards paid tributes to key players of the banking and finance industry which emerged because of their excellent projects and products for retail customers.
The awards acknowledged the ‘best-of-the-best’ practices in Asia’s banking and finance organisations, identifying banking and financial service activities, technologies, services and people that are significantly enhancing the banking and finance sector in Asia. Said al Badai, DGM — Branches, said: “As the leading bank with a fast-growing network, bank muscat aims to deliver reliable, dynamic and innovative banking services to the largest banking family in Oman. The bank draws on its expertise to provide customers with the best banking products and services. We are proud to win this award which recognises the bank’s efforts and goal to maintain the leadership position in Oman.”
bank muscat offers a complete range of retail and personal banking products and services through the widest network of 135 branches, ATMs CDMs and PoS terminals spread across Oman.
The bank plays a leadership role in promoting the savings culture in Oman through the flagship al Mazyona Savings Scheme which offers a whopping total prize money of RO 6 million with unparalleled winning chances for all segments across the Sultanate. The cards and ePayments department enjoys the top rank in Oman for total volume of credit and debit cards issued and acquired, with approximately 6,300 PoS terminals and 1.2 million transactions per month.
The bank’s Sayyarati is the preferred auto loan product in Oman and baituna housing loan product offers convenient plans to suit customer needs with simplified documentation and flexible repayment options.
mBanking mobile banking service is a first in Oman, providing customers with services such as account balance inquiry, third party fund transfers as well as utility and bill payments through mobile devices.
Expat Services provides quality financial products catering to the savings and/or investment needs of expatriate clients, as well as banking related services such as offshore account opening, financial planning and money transfers.
The bank is all set to launch Islamic banking operations, subject to approval from the Central Bank of Oman. For this purpose, the bank has announced ‘Meethaq’ Islamic Banking with RO 150 million capital.
The bank enjoys an edge in hi-tech products and services, including electronic payment and web-based services in tune with Oman moving towards a cashless society and meeting the banking requirements of a young, tech-savvy generation.
The bank has launched several initiatives to enable customer convenience for accessing banking services by adopting technology solutions such as mobile banking, SMS banking and Internet banking.
The bank recently launched a unique social responsibility campaign titled ‘Borrow Wisely’ aimed at educating the general public to carefully control their borrowing. The campaign reiterates the commitment by bank muscat, as part of its social responsibility, in serving Omani society and helping people to strike the right financial balance between the customer’s actual financial needs and their repayment capabilities.
The campaign offers advisory services to customers on how to take loans which will not become a burden and can be repaid within their financial capabilities. The ‘Borrow Wisely’ campaign highlights the commitment of the bank in enhancing its role in social responsibility and not just being a financial institution with its eyes on profitability only.
Abdullah al Balushi, Head — Branch Development, said: “Over the last 30 years, bank muscat has taken retail banking services to a new level. That remains committed to making banking convenient and centred around customer’s needs. The customer needs are constantly changing. bank muscat understands these needs and provides suitable financial solutions, building stronger relationship with customers.”
The corporate philosophy of bank muscat is underpinned by the rich Omani culture and traditions and the bank prides itself in its deep understanding of customer needs, offering financial guidance at all levels at its 135 branches in the Sultanate.
Oman Daily Observer
