Overseas
Credit
BankMuscat is the largest and the most
profitable bank in the Sultanate of Oman.
The bank aims to emerge as a leading
provider of banking services in the GCC
region and India, delivering superior
quality service to customers. Towards this
end, we are in the process of expanding our
presence in the aforesaid regions.
BankMuscat set up its first overseas branch
in Bangalore in India in 1998. This was
followed up with a second one in Bahrain in
February 2002 with the acquisition of
business from ABN Amro Bank. Both the
overseas branches are performing
satisfactorily.
The functions of Overseas Credit Division (OCD)
are three fold:
1]
Direct lending activities
OCD manages BankMuscat's direct lending
activities outside Oman. Participation in
syndications (funded and non-funded) of
corporate risks is carried out by OCD.
2]
Corporate credit of overseas branches
OCD outlines corporate credit policy &
strategy for our overseas branches/offices,
reviews & recommends credit proposals
submitted by overseas branches and monitors
corporate credit portfolios of overseas
branches on a continuous basis with a view
to build and maintain quality credit
portfolio.
3]
Specialised financing activities
OCD spearheads BankMuscat's efforts to
promote trade between Oman and East African
countries, especially Kenya and Tanzania.
Towards this end, BankMuscat has granted
lines of credit to banks in Kenya and
Tanzania, under which Letters of Credit
issued by the approved banks are confirmed
by BankMuscat.
OCD also interacts with regional financial
institutions like Arab Trade Financing
Program and Islamic Development Bank for
arranging trade related lines of credit for
BankMuscat.
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