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Bank Muscat, INSEAD join forces for best practices in banking sector

MUSCAT, 09 November 2015 - Bank Muscat, the flagship financial services provider in the Sultanate, in partnership with INSEAD, the leading international business school, recently conducted INSEAD's customised strategic management programme entitled 'Strategy for Growth and Long-term Value Creation' attended by members of the Board of Directors led by Shaikh Khalid bin Mustahail Al Mashani, Chairman.

The Executive Development Programme is part of a wider, ongoing effort between Bank Muscat and INSEAD to equip senior executives with essential skills to find new levels of innovation, motivation and value creation through transformational learning experiences that support them in creating real impact. In the aftermath of the global financial crisis, the joint initiative helps senior leadership teams to make strategic decisions promoting economic development and overall prosperity in the region.

Shaikh Khalid bin Mustahail Al Mashani said: “I am delighted to have led the Board of Directors in this programme which provided fresh insights on strategic growth and long-term value creation. The programme focused on strategies to enhance the board's ability to lead, challenge and guide Bank Muscat to a sustainable future."

Jean Dermine, Professor of Banking and Finance at INSEAD, who is directing the Strategic Management in Banking programme, said: “Our main goal is to provide learning that is perfectly aligned with the strategic goals of Bank Muscat and has a direct and tangible impact on its business alongside the country's economic prosperity.

Oman's government continues to drive its diversification strategy forward, providing more opportunities for potential investors in the country. In today's interconnected world and fast changing environment, banks worldwide are reviewing their strategy for the coming decade. In that context, the search for sources of sustainable value creation and profitable growth is imperative The country's leadership has recognised the need to explore and acquire new perspectives, ideas, skills and a depth of  knowledge that drives best practice and creates a dynamic business environment."

Commenting on the vision behind the Executive Development Programme, Miguel Lobo, Associate Professor of Decision Sciences and Director of the Abu Dhabi campus, said: “Through the INSEAD Executive Development Progarmme, we seek to highlight the role that academic research and executive education plays in driving the productivity, growth and competitiveness of financial institutions as well as government bodies. INSEAD's Executive Education programmes are developed to respond to this rapidly changing global business environment, unravelling and explaining new complexities while contextualising challenges and introducing new solutions."