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Bank Muscat CE wins ‘Lifetime Achievement’ award for banking contributions

MUSCAT, 24 May 2016 - In recognition of outstanding contributions to the banking and financial sector in Oman and the GCC region, AbdulRazak Ali Issa, Chief Executive of Bank Muscat, was conferred the 'Lifetime Achievement' award at the Oman Banking and Finance awards hosted by Oman Economic Review. His Highness Sayyid Taimour bin Assad Al Said presented the award to AbdulRazak Ali Issa at the GCC New Age Banking Summit, in the presence of H.E. Hamoud bin Sangour Al Zadjali, Executive President of the Central Bank of Oman.

AbdulRazak Ali Issa said: “I owe this achievement to the valuable opportunities made available to Omanis by His Majesty Sultan Qaboos bin Said. Bank Muscat is a Renaissance achievement of the Sultanate under the leadership of His Majesty Sultan Qaboos and I am proud to have been associated with the bank in its quest to emerge as the leading financial services provider in the Sultanate. I thank the entire Omani banking and media fraternity for this recognition and goodwill. I also owe this achievement to the unstinted support from the 3500 plus colleagues at Bank Muscat. I look forward to achieving greater success for Bank Muscat and the nation in future."

AbdulRazak Ali Issa is a leading Arab banker with more than four decades of dynamic leadership experience and the Chief Executive of Bank Muscat for the last 22 years. He has a successful track record of organisation-building and delivering sustained growth and profitability, organically as well as through mergers and acquisitions.

AbdulRazak has played a leading role in shaping the banking and finance industry in Oman. He is the Chairman of Oman Banks Association. A highly respected figure in the financial sector, AbdulRazak continues to lead Bank Muscat from strength to strength. Under the leadership of AbdulRazak, the finest of global banking practices and products have been introduced in Oman through Bank Muscat, raising its stature as the premier financial institution in the Sultanate with a 38 per cent market share of assets, 158 branches in Oman and 3500+ employees. He also guided the expansion of the bank into the regional markets, including Saudi Arabia, Kuwait, Bahrain, the UAE, and Singapore.

AbdulRazak was conferred the 'Arab Banking Personality' award in 2012 by the Arab Banking Union. He was ranked among the 500 most influential Arabs in the 'Power 500 - the World's most influential Arabs' by Arabian Business magazine. AbdulRazak was honoured with the 'Banking and Finance Personality of the Year' award at the 3rd Middle East CEO awards in 2006.

Bank Muscat highlighted its electronic banking channels at the GCC New Age Banking Summit. Amjad Al Lawati, AGM – Cards & eBanking, made a presentation on the bank's state-of-the-art mobile banking service. Winner of the coveted His Majesty Sultan Qaboos Award for the Best Public eService, mBanking is Oman's preferred mobile banking service with more than 410,000 registered customers.

Moving along with the times, Bank Muscat offers the right mix of traditional and electronic banking channels for the Sultanate's youth-dominated population. Bank Muscat customers are increasingly moving to electronic banking channels, the preference being mainly due to factors such as the adaptive and flexible nature of services. The bank is focused on adding value and engaging customers through their preferred banking channels.