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Bank Muscat wins Best Foreign Exchange Provider Oman award by Global Finance

MUSCAT, 5 August 2017 – Bank Muscat, the flagship financial services provider in the Sultanate, has won the Best Foreign Exchange Provider in Oman award by Global Finance. The award criteria included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies, including online foreign exchange systems.

Abdullah Al Hinai, General Manager – Wholesale Banking, said: “In recognition of service excellence, Bank Muscat is delighted to win the Best Foreign Exchange Provider in Oman award by Global Finance. The Treasury & Capital Markets (T&CM) division maintains leadership position in Oman as Bank Muscat is the only bank in the country to offer a full suite of treasury products and services on 24x7 basis. The bank is focused on offering niche service to sustain a competitive edge for clients.”

The innovative treasury products and services include hedging for foreign exchange requirements, managing interest rate risks, eliminating commodity price risks from businesses, offering fixed income investment opportunities across the region and globe. The service encompasses East Asian time as well as early New York time zones spanning all international and GCC working days. The T&CM division facilitated Oman’s first oil hedging deal in 2016 to create value for the country.

Bank Muscat is a consistent winner of the Best Foreign Exchange Provider in Oman award as well as awards by all major international banks for outstanding performance in error-free remittance and fund transfer. A multi-award winning institution, Bank Muscat’s performance has been consistently lauded by the international financial and banking community for several years.