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Bank Muscat wins Best Foreign Exchange Provider in Oman award by Global Finance 2017

MUSCAT, 11 July 2017 – Bank Muscat, the flagship financial services provider in the Sultanate, has won the Best Foreign Exchange Provider in Oman award by Global Finance. Criteria for choosing the winners included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. The best online foreign exchange systems were also identified.

The Treasury & Capital Markets (T&CM) division of Bank Muscat maintains leadership position in Oman. Bank Muscat is the only bank in the country to offer a full suite of treasury products and services on 24x7 basis. The 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.

During 2016, the T&CM division did Oman’s first oil hedging deal to create value for the country and the division added several new clients spread across the GCC and Asia to its portfolio. The bank believes its continued focus on sharing information and offering quality service will create a sustainable competitive edge for its client-focused business in the years ahead.

Bank Muscat is a consistent winner of the Best Foreign Exchange Provider in Oman award and also the recipient of 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.