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Bank Muscat sets benchmark in Premier banking with customer-centric strategy

​MUSCAT, 17 April 2016 – Bank Muscat, the flagship financial services provider in the Sultanate, has redefined Premier banking service with global banking solutions, exclusive benefits and rewards. Providing personalised service catering to the complex financial needs of clients, the Premier banking segmentation reflects the customer-centric vision of the bank.

Abdulnasir Al Raisi, DGM – Premier Banking, said: “Marking a long-standing and strong relationship with clients, the Premier banking strategy is a step into the future banking in Oman, reflecting the bank's commitment to expand innovative services to clients and remain the nation's bank of first choice. With global financial expertise, the bank has adopted smarter strategies to stay ahead in business and provide a distinct experience for Premier banking clients."

Al Raisi added: “Aimed at elevating Premier banking service to unparalleled heights, the bank serves all Premier customers of the bank - Private, asalah Priority and al Jawhar Privilege banking – through one department. Committed to further enhancing banking services to the premier segment, the bank's strategy focuses on customer service and benefits with dedicated Relationship Managers, exclusive centres and online services.  The differentiated and specialised banking experience distinguishes Premier banking clients from competitors." 

Bank Muscat, through Private Banking, is one of the few banks in the Sultanate catering to the needs of High Net-worth Individual / Ultra High Net-worth Individual segment, offering exclusive banking and investment services. As the HNI segment is becoming more sophisticated and global in its requirements, the Private Banking team constantly endeavours to remain a cut above the regional banks and match up to its global peers. 

Along with the best of banking services, including exclusive debit card, credit card, cheque book, which are unmatched in the Sultanate, Private Banking provides an exceptional breadth and depth of wealth management solutions. The investment offerings provide exposure to most global markets and asset classes, through a robust execution platform and administered through experienced dedicated Relationship Managers.

The wealth management solutions span across most developed and emerging markets, not restricted to the US, the UK, Europe, China, India, South East Asia, Latin America and the GCC. Clients can take exposure to most markets through the Private Banking platform by investing in different financial instruments like bonds, equities, Exchange Traded Funds, Mutual Funds and Alternates. The segment has tie-ups with reputed global private banks to provide tailored investment solutions for more financially savvy investors. The bank also facilitates the best of real estate offerings from destinations of choice for clients to invest through tie-ups with global counter parties of repute.

Besides addressing the regular investment needs of clients, the segment addresses wealth protection, which is another important aspect of Private Banking, by offering exclusive insurance products covering property, jewellery, artefacts and household items. Ensuring complete client confidentiality at all times, the wealth management solutions are offered to clients as per their risk appetite and comfort.

asalah Priority Banking provides a differentiated and specialised banking experience characterised by a profound understanding of clients' preferences. Forming a strong franchise that distinguishes it from competitors, asalah Priority Banking meets the requirements of the rapidly growing customer segment with focus on Recognition, Rewards and Solutions which have set a benchmark for personal and relationship based banking in Oman.

asalah customers are served by qualified Relationship Managers (RM) at exclusive asalah Priority Banking centres in select branches across the Sultanate. Leveraging its unmatched nation-wide branch presence, Bank Muscat offers asalah Priority Banking services across all regions through the largest network of 27 asalah centres.

The asalah relationship platform draws its strength from proximity to customers, commitment to delivering outstanding service and dedication of Relationship Managers trained to deliver the right solutions. The bank has placed its Relationship Manager talent pool at the very heart of asalah strategy.

The asalah membership comes with Bank Muscat's commitment to delivering value. Personalised premium products and upgraded services come with preferential pricing, thereby multiplying the value of asalah membership and reducing the cost of transactions. 

Benefits include exclusive asalah Platinum debit card, unlimited and complementary international airport lounge access, asalah Entertainer app featuring amazing deals on fine dining, travel, leisure, entertainment, beauty and numerous 'buy one get one free' offers / e-vouchers plus new and monthly offers throughout the year covering hundreds of world class brands in over 15 countries. asalah clients are also entitled to personal accident insurance, airport transfer in Muscat, preferential rates, competitive foreign exchange rates, fee waivers and discounts on a range of transactions like remittances, standing instructions and pay orders. The bank also offers Oman's first and exclusive premium Visa Signature credit card for asalah Priority Banking customers.

In the vibrant world of privilege banking, the distinctive identity says it all as al Jawhar Privilege Banking was introduced recently to serve the bank's core customer segment. Designed around the unique lifestyle and banking requirements of the largest customer segment, al Jawhar is the first-of-its-kind privilege banking service in Oman.

al Jawhar value proposition is based on three pillars of commitment to customers - Recognition, Convenience and Experience - that form the imprint of premium products and services. al Jawhar clients are entitled to express service at select branches and more than 100 upcoming discount offers on al Jawhar cards covering retail outlets, restaurants etc.

The value proposition of recognition places al Jawhar customers in a league of their own. Notably, al Jawhar Platinum debit card is the key to a world of exclusive services. Adding value, al Jawhar credit card benefits include airport lounge access and free travel insurance.

Premier Banking maintains close relations and reaches out to clients with a monthly newsletter covering the latest global, regional and local economy updates in addition to all important developments in the bank.

Bank Muscat has lined up exclusive high value al Mazyona monthly, quarterly and year-end prizes for the Premier banking segment. The Private Banking clients are eligible for all al Mazyona prize draws. The exclusive prizes earmarked for asalah Priority banking customers include two monthly prizes of RO 50,000 each, two quarterly prizes of RO 250,000 each and the year-end jackpot prize of RO 500,000 for one customer. The bank also offers special prizes to Al Jawhar Privilege Banking customers, including two monthly prizes of RO 25,000 each and two quarterly prizes of RO 50,000 each. Premier banking customers can participate in all other al Mazyona weekly, monthly, quarterly and special prize draws offering a total prize money of RO 10 million.

Al Raisi said: “Bank Muscat Premier banking pays much attention to customer service excellence with world class products and services. The bank will continue to focus on providing customers across Oman with special banking facilities and services that meet their personalised needs, aspirations and goals."