MUSCAT, 14 June 2015 – Bank Muscat, the flagship financial services provider in the Sultanate, has been ranked the top performer among large companies listed on Muscat Securities Market (MSM) in the Best Performing Company awards instituted by Alam Al-Iktisaad Wal A'Mal (AIWA) business magazine. Waleed Al Hashar, Group General Manager - Corporate Services, received the award from H.E. Nasser Bin Khamis Al Jashmi, Under-Secretary at the Ministry of Finance, at the ceremony attended by dignitaries, senior government and private sector officials.
Waleed Al Hashar said: “Bank Muscat is proud to once again receive the AIWA award in recognition of its commitment to excellence in corporate leadership. As a listed company, Bank Muscat pursues benchmark corporate governance and investor relationship culture in Oman, aimed at enhancing value for all stakeholders. We are delighted to note that all our innovative initiatives and unique achievements are being noticed and acknowledged as the bank is the recipient of all prestigious foreign, regional and local awards and accolades. Consistently winning prestigious awards helps Bank Muscat to define benchmarks in operational excellence."
The 2014 AIWA Best Performing Company awards was based on a survey of companies listed on Muscat Securities Market (MSM). Gulf Baader Capital Markets (GBCM) conducted the survey and evaluated key financial parameters of the companies and the results were validated by KPMG.
The ranking of companies was based on their performance in the last fiscal year, taking into account a defined set of broad parameters, including growth, return ratios, productivity and profitability ratios measuring the growth and efficiency of the companies.