MUSCAT, 20 February 2021
Consistent with its customer-centric imaginative and prescient, Financial institution Muscat, the main monetary providers supplier within the Sultanate, continues to launch new progressive monetary providers and options that simplify company banking. As one of many enduring successes of the Sultanate’s Renaissance, the financial institution has been taking part in a key function in reworking the Omani banking sector with a variety of progressive services and products over the previous 4 a long time. Financial institution Muscat enjoys the enduring belief of presidency establishments, corporates and SMEs who’ve been companions within the financial institution’s journey because the very starting, and its fixed growth over time. At present, Financial institution Muscat is the biggest monetary providers supplier for corporates within the Sultanate.
Financial institution Muscat is proud to have contributed considerably to the emergence and institution of many establishments which might be main establishments within the non-public sector as we speak. The financial institution is contributing steadily to the implementation of their manufacturing plans along with contributing to the help of presidency establishments as part of the very important function the financial institution is taking part in in supporting Omani Renaissance. Financial institution Muscat is proud to collaborate with corporates throughout varied sectors reminiscent of oil and gasoline, energy, water, mining, transport and telecommunications, airports, free zone growth and trade.
At present, Financial institution Muscat gives a variety of company banking services and products together with time period loans, working capital services, overdraft, asset finance, company and custody providers, import and export providers, bonds and ensures amongst others. The financial institution maintains a management place enabled by its deep sectoral experience, progressive structuring capabilities and sound due diligence methods thus catering to the long-term financing necessities of assorted initiatives within the Sultanate.
Talking on the event, Ahmed Faqir Al Bulushi, Chief Banking Officer, mentioned: “Financial institution Muscat has strengthened the Sultanate’s banking sector as an Omani establishment, which offers a full suite of banking merchandise, providers and options. One of many nice success tales of the Sultanate’s Renaissance, Financial institution Muscat has develop into a trusted company banking companion to authorities establishments and corporates, each large and small, over the previous 4 a long time. We’re delighted to additional construct on this success and proceed launching new world-class banking providers and options that fulfill the advanced necessities of our valued prospects in order to grasp the formidable objectives of Oman Imaginative and prescient 2040.”
Talking in regards to the digital transformation of the banking sector, Ahmed Faqir Al Bulushi mentioned: “Throughout the previous few years, the world has witnessed many challenges that helped speed up digital transformation because of the rising want to supply limitless entry for all no matter their circumstances. Digital options are taking part in an ever greater function in financial progress and growth with an increasing number of corporates across the globe boosting their inside efficiencies by means of digitalisation. We’re excited to see an increasing number of of our company banking prospects utilizing digital options to boost enterprise efficiencies and scalability. Going forward, Financial institution Muscat will proceed to help the enterprise sector by launching new and progressive digital options that additional improve the benefit of banking.”
One-stop banking
As a part of its efforts to boost comfort and add worth to providers provided to the federal government, giant corporates and SMEs, the financial institution has 4 unique company banking branches situated within the main enterprise hubs of the Sultanate. Staffed by highly-experienced Omani nationals, these company branches are a one-stop store for all sorts of enterprise banking necessities, starting from a easy account opening to availing of credit score services and extra advanced transactions reminiscent of commerce financing and the issuing of Letters of Credit score. The financial institution’s providers are additionally accessible by means of its different branches throughout the Sultanate in addition to Company On-line Banking. Most significantly, all company prospects have a devoted Account Relationship Supervisor. This ensures the immediate and efficient decision of their banking wants and necessities.
New solution-oriented web site
Digital banking platform
Financial institution Muscat additionally has a big suite of options and providers together with the state-of-the-art Enterprise-to-Enterprise (B2B) Join platform, which addresses the transactional necessities of enormous Authorities, institutional and company entities. The B2B Join platform permits establishments and huge corporates to construct an environment friendly and strong fee and reconciliation system that’s built-in with their ERP. Different digital options reminiscent of Distant Deposit Seize (RDC) on-line cheque clearing answer and the Direct Debit answer. The financial institution’s on-line Company Banking platform and the B2B Join answer additionally facilitate wage funds for workers by means of a safe fee channel beneath the Wages Safety System (WPS) as mandated by the Central Financial institution of Oman and the Ministry of Manpower.
Financial institution Muscat not too long ago launched its next-generation Transaction-banking platform, which gives a complete suite of superior digital options that features fee, account providers, collections and receivables, liquidity, single view accounts and commerce options for the corporates, SMEs and authorities establishments. The platform will enormously assist prospects to streamline their operational processes, scale back enterprise complexities and reduce prices. The financial institution additionally gives a full suite of International Commerce Providers to its Company Banking prospects to facilitate commerce and the financial progress and growth of Oman. These embody worldwide commerce finance and lending options to the financial institution’s institutional shoppers in each developed and rising markets, making it a number one market participant within the area.
Buyer-centric imaginative and prescient
In 2019, the Financial institution launched its International Relationship Administration Programme as a part of its customer-centric imaginative and prescient. This has created synergies throughout totally different departments of the financial institution to supply customised options to company shoppers. This permits the financial institution’s company enterprise companions to have a single level of contact on the financial institution by means of their devoted International Relationship Managers, enormously enhancing their banking expertise.
Higher service, on daily basis
Through the years, Financial institution Muscat has been working steadily to additional enhance its portfolio of providers and options in step with its imaginative and prescient of serving its prospects higher, on daily basis. The financial institution’s new providers and options are based mostly on buyer suggestions and desires in addition to international developments. By capturing the Voice of the Buyer, the financial institution connects and engages with its prospects at each touchpoint within the buyer journey. Financial institution Muscat is repeatedly attempting to enhance buyer expertise as a part of its customer-centric vison and can carry on introducing new merchandise, providers and options that additional improve the shopper expertise and increase their confidence and belief within the financial institution.