MUSCAT, 26 March 2020
Bank Muscat, the flagship financial services provider in the Sultanate, in line with its vision ‘To serve you better, everyday’ has reminded all its Corporate Banking customers to switch to a legally mandated secure format at the earliest. Since the launch of salary transfers via secure electronic formats, many public and private institutional customers have been transferring their employees’ salaries electronically and benefiting from the many e-banking services and facilities provided by the bank. Currently, more than 90% of institutional customers use secure electronic formats to transfer the salaries of their employees. In light of the efforts of the Supreme Committee for Dealing with COVID-19 to reduce the movement of people and for social distancing at this critical time, Bank Muscat encourages all institutions to switch to secure electronic banking channels for their salary transfers.
Salary instructions can be provided through Bank Muscat Internet banking, Bank Muscat Password Protected File Format or the Bank Muscat PDF Format. The bank recommends using Corporate Internet Banking as authorised employees/executives from the corporate can easily complete the entire salary transfer process without visiting a branch, while maintaining the highest level of security for all transactions.
Corporate Internet Banking is highly secure as it allows authentication through physical tokens for logging in as well as making transactions. The salary transfer option can be completed in just two simple steps: ‘Upload by Initiator’ and ‘Approval by the Authorizer’. Other key advantages of Corporate Internet Banking include: multi-user access with configurable viewing and transaction access options; multi-level approval workflow for transactions, viewing of balances for accounts and credit cards, viewing and downloading of bank and credit card statements; fund transfers to their own or third party accounts in Oman and abroad; bulk transaction processing of salaries and vendor payments; enquiries about outstanding utility bills as well as the respective payments; requests for new cheque books and online payments to PASI.
Bank Muscat has requested the remaining public and private institutional customers to switch over to the new secure formats as the bank will cease to accept salary payment instructions in unsecure formats after 30 June 2020. To apply for Corporate Internet Banking, please go to https://www.bankmuscatonline.com/corp/L001/bankmuscat/helpfiles/online_banking_services.html