Bank Muscat wins two awards for excellence in fund transfers

Bank Muscat, the leading financial services provider in the sultanate, was recently honoured with two elite awards by the New York headquartered JP Morgan, a global leader in financial services offering solutions to the world's most important corporations, governments and institutions.

The awards were received by Saleh Nasser al Habsi, deputy general manager - enterprise growth and capital market operations, Bank Muscat, in the presence of senior bank officials. The bank won the 2022 US Dollar Clearing Elite Quality Recognition Award for outstanding achievement of best-in-class MT103 with straight-through processing rate of 98.77 per cent.

The bank also won the 2022 US Dollar Clearing Elite Quality Recognition Award for outstanding achievement of best-in-class MT202 with straight-through processing of 99.90 per cent. The twin awards for operational excellence in the field of SWIFTbased dollar payments processing in both commercial and treasury payments, highlights Bank Muscat’s commitment to the highest quality standards in fund transfers.

On this occasion, Zuwaina

Abdullah al Sharji, assistant general manager – central operations and change management, Bank Muscat, said, “We are delighted to win this award once again and thank JP Morgan for recognising Bank Muscat’s ongoing and continuous commitment to the highest standards in straight-through processing. I would also like to take this opportunity to thank the operational teams at the bank for this achievement by consistently maintaining exceptional quality in both commercial payments and transfers, thereby ensuring the highest standards for processing throughout the payment chain.”