The event marks a major step by the Bank in building and strengthening relations with the communities in Oman. Thousands of citizens and residents are expected to join the celebrations along with the Bank’s senior executives from the headquarters and region A traditional Omani music band will perform at the event to enliven the al Mazyona experience, including the weekly prize draw.
Heads of companies and organisations dedicated to improving health and safety across the workplaces will gather for the Middle East’s biggest event in the field, aimed at improving protection for workers. The IOSH Middle East, in its three-year history, is hosting the annual event for the first time in Oman.
Subash Ludhra, President of IOSH, said: “It is fitting that we are hosting our conference in Oman this year, as the growth of business and commerce here means that it has never been more important to protect the lives and livelihoods of people across this region. We are thankful to BankMuscat for hosting this event and we hope this will build on the good relationship we already have with the premier bank in Oman.”
The Bank posted net profit of RO 33.4 million for the three months ended 31 March 2012 compared to RO 27.8 million reported during the same period in 2011, an increase of 20 per cent. Net interest income at RO 54.4 million in Q1-12 compared to RO 53.7 million in Q1-11 an increase of 1.2 per cent. There was a one-off income in Q1-11 net interest income and hence the year on year comparison shows only a marginal increase. But for the one-off income, the net interest income would have increased by 13 per cent. Non-interest income at RO 24.6 million was higher by 8.8 per cent compared to RO 22.6 million for the three-month ended 31 March 2011. Operating expenses for the three-month period ended 31 March 2012 at RO 33.5 million increased marginally by 6.5 per cent as compared to the same period in 2011. Increase in operating expenses is mainly attributable to increase in manpower cost.
Mr. Faisel Bin Hamad Al Wahibi, AGM Retail Banking commented:
“We are in no doubt that the women of Salalah will be happy to receive these special services which will help them to bank with privacy and comfort. At BankDhofar we recognize what is important for our customers and work hard to offer them the best banking services we can.”
ahlibank, the No. 1 bank in the Sultanate, reiterated its focus on the development of the economy of the Sultanate by sponsoring the Oman Economic Forum as a Gold sponsor . The forum, organized by the Ministry of Commerce and Industry & Al Iktisad Wal Amal Group from April 22 to April 23, at Al Bustan Palace Hotel featured prominent local and international speakers on the Economic development of Oman and including Tony Blair, Fuad Seniora as well as a number of Ministers from the Sultanate.
ahlibank has been at the forefront of the financial landscape in Oman is deeply committed to the economic development of the country, along with equitable and just growth. By extending its full support to the third Oman Economic Forum, the bank seeks to reinforce its commitment to contribute to the further progress of the Sultanate.
On being the gold sponsor of Oman Economic Forum, Mr. Hamdan Ali Nasser Al Hinai, Chairman of ahlibank, commented, “Oman as a country is economically quite stable, as compared to the rest of the world which has been adversely affected by the global economic crisis. At ahlibank, we wish to support all those initiatives that showcase Oman as a favorable investment destination. Oman Economic Forum, indeed, is a great opportunity for the brightest minds in the world to meet and give a detailed insight on Oman economy including existing investment opportunities and the future prospects for banking and financial industry”.
The Forum Oman is a platform to address important issues such as the steadfast reform and diversification plans in the Sultanate, development of small and medium enterprises, latest trends in the banking sector, key investment opportunities in the Duqm project and business and investment opportunities in energy and water projects.
Sulaiman Al Harthy, Group GM – Islamic Banking, said: “BankMuscat is the pioneer of Islamic banking in Oman. The Bank’s strategy is to attract customers through innovative products and services. As always, BankMuscat takes the lead in offering value added services and strives to increase the range of benefits for customers. We are confident that the seminar will spotlight on important aspects of Islamic banking from the Shariah perspective.”
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