HSBC Bank Oman marks 70 years in Oman

MUSCAT: Celebrating 70 years of supporting Oman’s economic growth and development is the focus of a series of roadshows launched this week at HSBC Bank Oman’s branches across the country to mark the bank’s milestone anniversary with customers and staff.

The nationwide programme will showcase the succession of achievements that have been marked by both HSBC Bank Oman and by the Sultanate in the seven decades since the bank opened its first branch in Muscat in 1948 to help finance a dynamic emerging economy.

“The 70th anniversary of opening our first branch in Muscat is a special milestone for all of us at HSBC Bank Oman, giving us a perfect opportunity to celebrate the continuing role which we have played in Oman’s banking history in support of the country’s economic development,” Andrew Long, CEO of HSBC Bank Oman, said.

“HSBC was the only bank in Oman for our first 20 years here and since we opened 70 years ago, the bank’s association with Oman has been a story of partnership and progress,” Andrew added.

HSBC assisted in the printing and distribution of the first Omani currency, the Saidi Rial, in 1970, and then helped with the change of currency to the Omani Rial in 1972 under the supervision of the Omani Monetary Council. British Bank of the Middle East, as it then was named, introduced the first ATM in 1986 — a pioneering step in the digital development of the financial system that HSBC, which was followed by the launch of the first online banking system in the country.