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BankMuscat unveils dynamic Private Banking strategy, new branch at headquarters

MUSCAT, 13 February 2012 – BankMuscat, the flagship financial institution in the Sultanate, on Monday (13 February 2012) took Private Banking services to a new level unveiling a dynamic brand and business strategy and an exclusive branch at the headquarters. AbdulRazak Ali Issa, Chief Executive of BankMuscat, inaugurated the flagship Private Banking branch offering bespoke solutions that preserve, secure and grow wealth.

AbdulRazak Ali Issa said: “The new Private 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 Private Banking clients."

AbdulRazak added: “Over the last 30 years, BankMuscat has achieved steady and significant growth in various disciplines to emerge as the leading financial institution in Oman. The new Private Banking brand reaffirms the flagship financial institution's commitment to banking excellence."

BankMuscat Private Banking is renowned for providing bespoke solutions that preserve, secure and grow wealth. With experience and expertise, the Bank offers end-to-end solutions by identifying global opportunities, developing prudent plan and implementing insightful strategies. The innovative process and approach ensure that the needs, expectations, goals and constraints of valued clients are well understood. The team of wealth experts serve as trusted advisors to help develop investment solutions that are tailored to meet the present and future needs of clients.

Ali Said Ali, DGM – Asset Management and Private Banking, said: “The foundation to build a successful Private Banking business vests on three key pillars - sharp insights, global solutions and best propositions. The brand is being positioned to capitalise on BankMuscat's tradition of trust, heritage and playing a key role in the success and strength of Oman's economy."

BankMuscat Private Banking offers exclusive and personalised wealth management service that is evolved and implemented by wealth advisors. Working closely with each individual to evaluate personal financial objectives, the approach begins by outlining goals and developing

innovative instruments to achieve the best possible long-term growth on assets. Right through the various phases of the journey through wealth, the Bank ensures that innovative strategies accommodate the changing needs of clients.

With expertise and experience, BankMuscat Private Banking provides an exceptional breadth and depth of wealth management solutions, including investment, wealth structuring, advisory and banking across multiple jurisdictions around the globe and diverse asset classes.

Prabal Gupta, Head – Private Banking, made a presentation on the new brand and business strategy. In order to provide the best financial and investment solutions, the expertise of BankMuscat and global partners is leveraged, subject to rigorous ongoing due diligence. Clients receive advice of an international network of financial, legal and technical experts who together help develop a unique wealth management strategy, Gupta said.

The wealth structuring solutions offered by BankMuscat Private Banking includes estate planning and  trust services. The investment management solutions include structured products employing personalised strategies using a diverse set of asset classes, including funds, shares, interest rates, forex, commodities and real estate. The alternate investments include a comprehensive choice of products ranging from hedge funds, real estate investments and private equity.

For discretionary portfolio management services, wealth advisors work with clients to define a wealth management model that respects individual risk profile while a dedicated portfolio manager delivers a tailor-made solution for regional and global markets.