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Bank Muscat hosts US business delegation

MUSCAT, 9 April 2014 – Bank Muscat, the flagship financial services provider in the Sultanate, hosted the visiting delegation of the American Business Roadshow in Oman. The ceremony at the bank's head office was attended by dignitaries, senior government officials and prominent business leaders.  

Present on the occasion were H.E. Eng. Ahmed bin Hassan Al Dheeb, Under-Secretary at the Ministry of Commerce and Industry; H.E. Mohsin bin Khamis Al Balushi, Adviser at the Ministry of Commerce and Industry, H.E. Said bin Saleh al Kiyumi, Chairman of Oman Chamber of Commerce and Industry (OCCI); H.E. Greta C. Holtz, US Ambassador to the Sultanate of Oman; H.E. Hunaina Al Mughairy, Oman's Ambassador to the United States.

AbdulRazak Ali Issa, Chief Executive, congratulated the Ministry of Commerce and Industry and the National US Arab Chamber of Commerce for facilitating a successful visit for the American business delegation in Oman. “Against the backdrop of the US-Oman Free Trade Agreement, the bilateral trade has been growing steadily. In 2013, the export of US goods to Oman was valued at $1.5 billion where as Oman exported goods worth $1.02 billion to the US. In order to benefit from the increasing bilateral trade and investment flows between Oman and the US, the two friendly countries should aim for increased collaboration and partnerships," AbdulRazak Ali Issa noted.

AbdulRazak Ali Issa added: “The investment climate in Oman is favourable with a stable economy, transparent legislation, institutional systems and low tax rates. Oman attracted US $54 billion Foreign Direct Investment during the Seventh Five Year Plan ending in 2010 as against the projection of $36 billion. The fundamentals of Oman's economy in the medium term remain stable and solid and the investment climate continues to be favourable."

Abdulnasir Al Raisi, AGM – Corporate Banking, made a presentation on the bank's project finance expertise and experience in arranging equity, advisory services, syndication and providing financing solutions to project owners and private investors. The key to the bank's project finance proposition is the constant endeavour to add value to projects through financial structuring to ensure bankability. These services are backed by innovative financial structuring, sectoral expertise and sound due diligence techniques. The bank is focused on maintaining its leadership position in the project finance domain.