Under the vigilant eye of His Majesty Sultan Haitham bin Tarik, the Sultanate of Oman commemorates its 53rd National Day with notable achievements in various sectors, reaffirming its dedication to fulfilling the objectives outlined in Oman Vision 2040. On this special occasion, Bank Muscat, the foremost financial service provider in Oman, takes pride in being a standout accomplishment of the renaissance era, channeling all its resources and capabilities towards serving the nation and consistently aiding its advancement and growth.
Over a span of 40 years, the bank, as a reliable banking partner, has contributed to sustainable development through the provision of products and banking solutions to various government and private institutions for implementing diverse projects, including economic ventures. It boasts the largest asset management portfolio in the Sultanate of Oman, with assets under management (AUM) exceeding $2.5 billion.
Bank Muscat has played a pivotal role in fostering the emergence of numerous small and medium-sized enterprises across various sectors. Through its financial and management consultation services, the bank has become a hub of expertise locally and regionally, offering tailored solutions to institutions and business owners. This underscores its pioneering position in delivering innovative banking services and products, with a commitment to achieving further successes in various domains based on the bank's vision "to serve you better every day," prioritizing individual and corporate customers.
Services for Corporates and Entrepreneurs:
Bank Muscat has experienced significant development in the services provided to government institutions and corporates, striving to offer the best banking experience through innovative and diverse solutions. The bank launched a range of services, including those accessible through e-channels, aligning with the digital transformation embraced by various institutions. It introduced an integrated digital platform for banking transactions, providing corporate and institutional customers with a suite of digital solutions encompassing payment transactions, account services, collections and receivables, liquidity, and trade services. This platform enhances customers' control over funds both domestically and internationally, offering flexibility through direct deposit collection services and digital account solutions.
Exceptional Retail Services:
Bank Muscat, through its customer-centric vision, has introduced new services and innovative offers to provide added value and meet the diverse needs of customers. The bank focuses on digital transformation plans aligned with Oman Vision 2040, launching cutting-edge services with benefits tailored to different categories. New branches have been opened and relocated as part of a long-term strategy to enhance the branch network and provide high-quality banking services. The bank emphasizes the development of products, exclusive deals, and advantages to enhance the customer experience, offering various banking services such as personal finance, auto finance, and housing finance.
Financing Options to Support Investors:
To strengthen its leading position in offering top-notch banking services to individuals and businesses, Bank Muscat was appointed as the Issue Manager for the Initial Public Offering of OQ Gas Networks, the largest IPO listed on the Muscat Stock Exchange. The bank also acted as the Global Coordinator along with other financial organizations. The bank has strengthened its partnership with government and private institutions, providing them with modern solutions and digital services. Bank Muscat provides individual and institutional clients with the opportunity to take advantage of investment options, assessments, and analyses in various funds.
Nonstop Development of E-Channels:
Bank Muscat is committed to achieving digital transformation and financial inclusion, witnessing a notable increase in acquiring transactions through e-channels and POS machines. The bank has launched a range of new electronic services, including internet and mobile banking services, allowing customers to apply for finance products and credit cards through digital channels. The bank introduced services for opening children's accounts and a new Doorstep Banking service, offering corporate employees the convenience of opening bulk personal accounts from their workplace.
Undivided Attention to HR:
Bank Muscat places great importance on the development of human resources, implementing specialized policies and plans to provide the appropriate environment for employees. It encourages and motivates employees through various programs designed to sharpen their skills. The bank continuously supports employees by providing training and guidance programs and workshops in various fields. The bank pays great attention to supporting female employees, with the percentage of female employees reaching more than 48% of the total number of employees.
Social Responsibility Initiatives and Sustainable Programs:
Bank Muscat maintains its leading position in social responsibility and community service, contributing to Omani society through various activities and initiatives. The bank conducts social, cultural, economic, and sports initiatives through sustainable programs for humanitarian goals. Bank Muscat has a dedicated department to handle all social responsibility initiatives and has been the first bank in Oman to deliver skill-building support for SMEs. The Al Wathba Academy is a prominent initiative in the field of CSR, providing free consultations in finance and management, offering solutions to entrepreneurs, and implementing training courses with internationally recognized certificates.
Global Recognition Confirms the Bank's Leadership:
Bank Muscat has received several recognitions from regional and global institutions for its pioneering position in the Islamic banking landscape. The bank has been awarded the Best Digital Bank by Global Finance in three categories: Corporate Banking, Retail Banking, and Islamic Banking. It has also been recognized as the Best Local Bank, Best Corporate Bank, and Best ESG Bank in the Sultanate within the Euromoney Awards for Excellence for 2023. The bank won the Best Asset Manager Award and the Best Investment Bank Award in the Sultanate by EMEA Finance. Bank Muscat received the Infosys Finacle Innovation Awards 2023 in two categories: Maximizing Customer Engagement for its leading Mobile App in Oman and Corporate Banking Innovation for its dynamic forex service to corporate banking customers. The bank was crowned with the Gold Award at this year's Oman Sustainability Week Awards ceremony for its pioneering role in CSR and community service programs.