MUSCAT, 26 August 2011 – BankMuscat, the leading financial services provider in the Sultanate, has won a prestigious award in recognition of operational excellence in the field of Euro payments processing. BankMuscat was among a selected group of regional institutions to receive the prestigious annual STP award for straight-through-processing, presented by Commerzbank for outstanding performance in the delivery of commercial and financial payments in Euro currency.
The Euro STP Excellence Award acknowledges BankMuscat for exceptional quality in the delivery of commercial payments and financial institution transfers. The award recognises BankMuscat’s state-of-the-art in-house payment architecture and indicates that the Bank consistently maintains high SWIFT standards, which facilitates automated processing throughout the payment chain.
Earlier this year, BankMuscat won a similar award from Deutsche Bank, besides, for the eighth consecutive year, the Best Foreign Exchange Bank in Oman 2011 award from Global Finance. The bank was identified among the best currency trading providers, equipped with the best online foreign exchange systems. The Bank’s strengths included foreign exchange transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.
In the prevailing volatile foreign exchange markets, corporations around the world look for a strong, knowledgeable FX bank to help them cope with the turbulence in the markets. A multi-award winning organisation, BankMuscat’s performance has been consistently lauded by the international financial and banking community for several years. The top-notch awards reflect the best overall performance in terms of qualitative achievements and strategic initiatives.
Consistently winning prestigious global awards speak volumes on the unrivalled position enjoyed by BankMuscat in the Sultanate. A keen perception of customer requirements has enabled BankMuscat to develop products and services in line with the current and emerging needs. The Bank remains committed to banking excellence through innovative products and services.