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
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.
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.
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.