Bank Muscat further enhances its services for corporates, institutions
Bank Muscat, the leading financial institution in Oman, is working to further enhance its banking services for corporate and institutional customers. The bank aims to offer diverse banking solutions and facilities tailored to the specific requirements of this segment.
On Monday, Bank Muscat organised a media briefing at its headquarters to showcase the latest advancements and updates within the banking group, specifically aimed at acquainting institutions with these developments and new services.
At the event, Bank Muscat officials emphasised the bank's commitment to ongoing success and accomplishments in delivering business and banking services to government institutions and companies, with a particular emphasis on electronic services.
In the recent period, Bank Muscat has introduced a range of new services, facilities, and features aimed at adding value to diverse institutional clients. These innovations facilitate seamless and secure banking transactions through new electronic channels, harnessing modern technologies to enhance service delivery.
Addressing the media briefing, Ilham Murtadha al Humaid, General Manager of Corporate Banking at Bank Muscat, emphasised the importance and priority accorded to the institutional sector. She said, "This commitment is aimed at providing a diverse range of banking facilities and services that cater to the needs of these institutions, facilitating the development of their businesses. At the bank, we view ourselves as partners in the success and progress of these institutions.
"Consequently, we strive to enhance our services and operations to align with the evolving needs of these entities. This involves active participation in events and meetings to better understand the requirements of the institutions, enabling us to offer services, products, and facilities that not only meet their needs but also contribute to their growth and development."
Afaf Ali Moosa, Assistant General Manager, Large Corporate, Bank Muscat, highlighted the pivotal role played by internet-based electronic solutions in contemporary economic development. She said, "This strategic transition towards leveraging electronic services not only boosts efficiency but also results in cost reduction, heightened speed, scalability, and improved efficiency in completing transactions swiftly and effectively."
"Digital transformation is no longer a choice but an imperative for all institutions, particularly given the array of innovative banking and technological advancements in the online realm. To align with these developments, Bank Muscat actively invests in technology, offering electronic banking services to cater to institutional needs and deliver added value. The bank is dedicated to supporting diverse institutions, whether governmental or private, and fostering a thriving business environment."
Ibrahim Khamis al Balushi, Senior Assistant General Manager – SMES, Bank Muscat, highlighted the array of banking services, facilities, and tailored solutions extended to customers across diverse institutions and companies.
He said, "This encompasses supporting small and medium enterprises, which are crucial sectors with substantial contributions to the national economy. The bank is committed to offering solutions that bolster entrepreneurs and business owners, underscoring Bank Muscat's position as a leading financial institution in the sultanate, prioritising this vital sector. The bank consistently endeavors to evolve its services in line with market requirements and the needs of the institutions."
Digital transformation
As the trusted banking partner of corporates and institutions in Oman, Bank Muscat is committed to supporting corporates to make a mark in digitalisation to create a successful business environment.
As part of the bank’s digital transformation plan, Bank Muscat offers the 'Integrated Transaction Banking' platform to government entities, corporates, and SMES which offers a wide range of online capabilities including payments, a consolidated dashboard of bank accounts across all banks, direct debit solution, virtual accounts, liquidity solutions, and trade services.
As part of its strategy to expand its branch network, Bank Muscat continues its endeavors to provide high-quality banking services to customers across the sultanate. With the latest addition in Duqm, the bank now has five corporate banking branches across Oman including two branches in Muscat and one each in Sohar, Salalah, and Duqm.
The corporate branches are characterized by a spacious and comfortable design and are manned by well-qualified and experienced Omani cadres.