MUSCAT, 7 January 2012 – Excitement gripped Markaz Al Bahja mall as Oman’s popular al Mazyona savings scheme from BankMuscat turned out to be a grand celebration for Rashid bin Hamed al Shukaili from Rustaq branch who won the second RO 400,000 jackpot prize of the 2011 scheme. H.E Mohammed Abdullah Al Busaidi, Wali of Seeb, presided at the mega event attended by senior bank officials and picked the lucky winner.
the commercial banks in the Sultanate as of the end of October 2011
rose by 13.4% to (RO. 7.878,6) billion compared to (RO. 6.947,2)
billion in the corresponding period in 2010.
The monthly statistical bulletin published by the Central Bank of
Oman (CBO) pointed out that the gross value for the deposits as of the
end of September 2011 includes the time deposits stood at (RO.
2.934,2) billion, (RO. 2.406,6) billion saving deposits and (RO 2.446)
billion on demand deposits.
The bulletin pointed out that the total value for these deposits
include (RO. 7.286) billion and (RO. 592,6) million in foreign
The Muscat Securities Market Index showed a decline of 8.13 (0.14%) to the day high value of 5,712.12 points and the Dubai Finance Market drooped by 3.85 (0.29%) to the day high value of 1,351.67 points on January 4, 2012. The Bahrain Stocks Exchange surged slightly by 1.47 (0.13%) to the day high value of 1,135.66 points while the Kuwait Stocks Exchange declined by 26.70 ( 0.46%) to the day high value of 5,782.10 points. The Qatar Stocks Exchange surged by 11.37 (0.13%) to the day high value of 8,910.21 points and the Saudi Stocks Exchange drooped by 6.01 (0.09%) to the day high value of 6,420.93 points.
Since its inception up to December 2011, Oman Development Bank has granted loans worth of RO 354 million for the various sectors in Oman. For these loans, the Oman government bears the 6% interests rate while the debtors have to bear only 3% interests. In addition, interest free loans have also been granted for traditional crafters as well. This week, Oman Tender Board awarded contracts to build 37 aerobridges at the Muscat and Salalah Airports. The construction will cost RO 6.2 million. Of the total of bridges, 29 would be constructed at the Muscat International Airport and the other eight would be built at the Salalah International Airport, sources stated.
Sulaiman Al Harthy, Group DGM - Consumer Banking, said: “The BankMuscat strategy is to attract customers through innovative products and services. As always, BankMuscat takes the lead in offering value added services. The Bank strives to increase the range of benefits for customers and we are confident that the Islamic banking seminar will shed light on important aspects of Islamic banking from the Shariah perspective.”
Al Hilal Bank first in the Middle East to use award-winning digital pen technology to optimize document-based transactions
January 4, 2012
Al Hilal Bank, a progressive Islamic bank, is using state-of-the-art digital pens developed in the UK to revolutionize its document-based field and office operations. Al Hilal Bank has thus become the first bank in the Middle East to use this technology, perfectly complementing its strategy of using best-in-class technologies such as thumb verification, instant card issuance and digital certification to ensure the highest level of security in banking transactions and enhanced customer satisfaction. Launched in June 2008, Al-Hilal Bank prides itself in taking a progressive approach to providing its customers with accessible Shariah-compliant banking solutions.
The award-winning digital pen is currently used by Al Hilal Bank’s direct sales team as well as office staff involved in Credit Finance, Finance Operations, and Sales Coordination. The device includes a camera and a GPS that digitalize and automatically import the written documents to Al Hilal’s systems. Al Hilal personnel simply write on a specially-printed copy of a particular document with the digital pen, which automatically records the handwriting in its memory. The recorded ink is then downloaded and matched with the image of the original document. It also creates a new, exact copy of the handwritten document in PDF format, just as if it had been scanned or photocopied. The digital copy can then be easily saved, sent, archived, copied, deleted or retrieved depending on the bank’s requirements.
al Mazyona, reckoned the savings scheme of the nation, offers one of the biggest prize money in the savings scheme history in Oman. The objective is to create a lifetime change for winners and allow them to invest their prize money in things that will make a lasting difference and the well-being of their families.
The division, which services a geographically diverse base of emerging market institutional investors, has consistently won accolades for promoting trading on Muscat Securities Market (MSM) and is reckoned the broker of first choice among foreign institutions investing in Oman. The team is committed to providing customers with exclusive value-added services as part of the one-stop financial services package offered by the Investment Banking division.
IFC Capitalization Fund is a global equity and subordinated debt fund founded by International Finance Corporation (IFC), a member of the World Bank group, and the Japan Bank for International Cooperation. It aims to support banks considered vital to the financial system of emerging market countries.
The investment will provide long-term capital resources to BankMuscat as it continues to expand its financial services. The facility is focused on expanding operations of Al Wathbah, the Bank’s small and medium enterprises (SME) division, and baituna, the housing finance unit. It will also support cross-border investments within the region, facilitating greater economic and financial integration.
The award was presented during the Oman Debate 2011, held recently at Al Bustan Palace and was received by Mr. Mohammed Redha Jawad, G.M Wholesale Banking, BankDhofar. “We are delighted to accept this recognition from OER. This award has been a result of the contribution and hard work by all staff of the Bank, and continued support of the Board of Directors without their dedication and support this would not have been possible.” said Mr. Jawad.
Page 155 of 218