MUSCAT: Bank Muscat the leading financial services provider in the Sultanate of Oman has won the prestigious Best Corporate / Institutional Digital Bank (Oman) award from Global Finance. The award was received on behalf of the bank by Mohammed Sultan Al Habsi, Chief Representative, UAE Representative Office, Bank Muscat, at the Middle East Digital Bank and Innovators Awards 2022 held in Dubai. Winners were selected based on a number of criteria, including their strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and site design and functionality.

Speaking on the occasion, Ilham Murtadha Al Hamaid, General Manager – Corporate Banking, Bank Muscat, said: “We take this opportunity to thank Global Finance for recognising the bank’s innovative digital banking services and products, which have been greatly benefitting our customers. Bank Muscat offers the latest digital financial services and solutions to its corporate and public sector customers. With emphasis on multiple channels and new products that cater to different sectors, the bank is focused on maintaining its leadership in through innovative products and services including electronic payment and online services. We would like to thank all our customers for their continued patronage and strong confidence in Bank Muscat.”

Digitalization is in line with the goals of Oman Vision 2040 and will further enhance financial inclusion in Oman. The bank’s customers are benefiting immensely from the latest devices, solutions and technological advances made available to them through the implementation of cutting-edge technology. As the leading financial services provider in the Sultanate, Bank Muscat has the largest banking network in Oman with 174 branches and over 800 ATMs, CDMs and other devices. Corporates also have access to dedicated Corporate Banking branches at business hubs like Ruwi, Ghala, Sohar and Salalah apart from the other conventional banking branches of the bank.

Digitalization is helping corporates too speed up transactions, optimize the efficiency of their employees, minimize data-entry related risks in payment processes and improve security. Digitalization addresses the entire value chain of corporates by providing sophisticated analysis of data sets, real-time insights to ensure transparency and greater control for corporate customers to make better-informed decisions. With state-of-the-art solutions and services like the recently launched Trade Portal, Liquidity Management solution, Business-to-Business (B2B) Connect platform, Corporate Online Banking platform, Direct Debit solutions and Remote Deposit Capture, Bank Muscat’s Corporate Banking offer secure ‘best-in-class’ digital solutions and services, which are based on customer feedback and needs as well as global trends.

The bank’s customer-centric vision and the adoption of global best practices have resulted in numerous accolades in the past. Earlier in 2022, Bank Muscat was recognized as one of the Top 100 Companies as well as one of the Top 30 banks in the region by Forbes Middle East. The bank has also won a number of awards from prestigious international publications like Euromoney, The Banker and EMEA Finance for its different lines of business in the past even as it continues to play a key role in transforming the Omani banking sector. Going ahead, Bank Muscat will continue to support corporates and government entities to make the best use of technology and processes to transform and supercharge their business environment.