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BankMuscat celebrates 25 years:
Defines bank’s philosophy – ‘with you always’
Muscat. 29 April 2007: BankMuscat (SAOG),
the nation’s premier bank, has launched its 25th
year celebration. The Chief Guest H.E Hamood bin
Sangour Al Zadjali, Executive President, Central
Bank of Oman, in the presence of Sheikh\
AbdulMalik bin Abdullah Al-Khalili, Chairman,
BankMuscat, and members of the Board of
Directors and the management team of the Bank
launched the celebration.
AbdulRazak Ali Issa, Chief Executive of
BankMuscat commenting on the Bank reaching its
25th year said :
“BankMuscat has come a long way since its
inception in 1982 as Bank of Muscat. Starting
from a small operation, the bank has steadily
grown over the years to become the largest bank
in the Sultanate of Oman. What gives me greater
pride is that BankMuscat has been consistently
nominated as the best bank in the country and is
one of the best employers in the Sultanate. This
is a reflection that we have been successful in
meeting the expectations of our stakeholders –
customers, shareholders employees and society.”
As the largest bank in Oman with a market share
of over 40%, BankMuscat recognises that it is
not just another financial services organization
but an integral part of the country, its economy
and its future. The bank plans to continue
building stronger ties with people across the
country and across age-groups with a variety of
value added banking products, services and
solutions. It is from here that BankMuscat’s
philosophy of ‘With You Always’ stems: building
multiple, long-term, sustainable relationships
with target customers.
Taking into consideration the growing consumer
demand, BankMuscat launched several consumer
products - the ‘new’ al Mazyona savings scheme
with new features including a free personal
accident insurance cover and a special ‘loyalty’
prize to reward customers with a consistent
savings habit. Other new product offerings
include baituna home finance: the baituna suite
of products is available for purchase and
construction of homes for first-time buyers;
purchases of second homes or retirement homes;
and also for purchase of land for residential
use at selected locations. Financing is offered
primarily to Omani nationals, though the suite
of products also provides financing options for
GCC nationals and expatriates who wish to seek
housing finance for properties in the Sultanate.
Another new product introduced this year is the
‘Hayatuna’ Family Protection a unique insurance
product. Through 'Hayatuna' Family Protection,
BankMuscat aims to provide an umbrella of
protection to the family members of customers
who opt in to this group life insurance product.
Moving forward with the bank’s philosophy ‘With
you always’ the bank is moving closer to the
people by increasing its branch network, of 99
branches in the Sultanate and over 220
conveniently located ATMs and 37 Cash Deposit
Machines. The Bank has also expanded regionally
into the markets of Bahrain, KSA and India.
To continue the celebrations, a BankMuscat
convoy of vehicles was flagged off. This convoy
will travel to various parts of the country to
create awareness of the bank’s products and
services, generate referrals and reach out to
customers nationwide. |
