06 March 2017 - Bank Muscat, the flagship financial services provider in the
Sultanate, has won the ‘Best Trade Finance Provider in Oman’ award by Global
Finance. The best trade finance banks across the region were selected on the
basis of transaction volume, scope of global coverage, customer service,
competitive pricing and innovative technologies.
from industry analysts, corporate executives and technology experts were
evaluated to decide the winners in addition to a poll of Global Finance’s
readership to ensure the accuracy and reliability of the results. The awards
have identified players who successfully navigated through changes in the global
trade climate, Global Finance noted.
Atiq, DGM – Transaction & Public Sector Banking, said: “The performance of
Bank Muscat is consistently endorsed by the global banking community and we are
delighted to once again win the prestigious Global Finance award. Bank Muscat
has been providing world class banking expertise to corporate houses in Oman for
over a quarter century. With the best and most knowledgeable team in the
country, Bank Muscat is ideally positioned to meet all trade finance
requirements of corporate clients. Bank Muscat remains committed to partnering
with all institutions and corporate clients for success, as the bank processes
and technology are designed to drive future corporate transactions and digital
and exporters in Oman require specialist finance, including the facility to
finance raw materials for processing before they sell the finished goods. Trade
finance transactions are processed in multi-stages that run into many months.
Muscat is reckoned among the forerunners in trade finance services across the
region. The Global Trade Services (GTS) team at Bank Muscat blends traditional
financial solutions with tailor-made packages for operations, ensuring prompt
payments, managing liquidity and minimising exchange rate risk. To meet the
challenging demands of exporters, importers and local traders, Bank Muscat
offers customised solutions with its strong global network. Bank Muscat issues
Letters of Credit, various types of Guarantees and Standby LCs as also financing
to exporters and importers.
Muscat has aligned its strategic plan for a complete digital transaction banking
platform which will take care of all current and future requirements of
corporates and allow organisations to efficiently perform its daily operations
and take informative strategic decisions to grow the company.
platform will allow Corporates to handle its receivables and payments
requirements, connect with vendors and provide easier payment solutions to
customers. The platform will provide a range of solutions in trade supply chain
and financing, domestic/export factoring, liquidity and treasury, MIS and
reporting requirement, facilitating straight-through processing and