Friday, Aug 22nd

Last update04:19:09 AM GMT

You are here: Finance & Economy Banking


‘Oman myth of light and colour’ art exhibition by Hunaini brothers opens at BankMuscat

MUSCAT, 22 November 2011 – The BankMuscat head office came alive with the essence of Oman on Tuesday (22 November 2011) as H.E. Abdulaziz bin Mohammed Al Rawas, Adviser to His Majesty the Sultan for Cultural Affairs, opened ‘Oman Myth of Light and Colour’ art exhibition by the Sultanate’s renowned Hunaini brothers. The 10-day exhibition is organised by Bait Muzna Gallery in association with BankMuscat to mark the 41st National Day.

The exhibition features a wide range of paintings and sculptures by the three Hunaini brothers showcasing the natural beauty of Oman, Bedouin life, rural life, wild life, marine life, traditional souq, traditional dance and crafts. The exhibition is a tribute to the heritage, culture and proud achievements of Oman during the past 41 years under the leadership of His Majesty Sultan Qaboos.

H.H Sayyida Susan Al Said, Director of Bait Muzna, said: “Bait Muzna is proud to be associated with BankMuscat in hosting this exhibition, which is a unique celebration on the occasion of the 41st National Day. The works by Hunaini brothers on display are unique, preserving the quality of Omani faces, architecture and landscape and portraying the essence of Oman. We truly applaud the gesture by BankMuscat in supporting the exhibition and thereby promoting arts.”


Oman Arab Bank implements Microsoft solutions to power sophisticated Internet banking services

•    Implements robust Business Continuity initiative based on Windows infrastructure     
•    Microsoft solutions enhance operational efficiencies & optimize IT infrastructure

Muscat, Oman, November 22 2011: Microsoft Gulf today announced that Oman Arab Bank, one of the leading financial institutions in the Sultanate has implemented a diverse array of Microsoft solutions to build an innovative and sophisticated IT infrastructure capable of supporting its retail and corporate customer base and real-time integration with B2B and B2G e-government systems.. This has helped the bank to enhance its operational system, maximize efficiencies and optimize its IT infrastructure to support a dynamic operating environment and various business requirements.

With the Internet becoming a key platform for the bank to enhance customer experience, Microsoft technologies like its application development platform .Net, WF, WCF and SQL database have become a critical element of its Internet banking self-service portal, allowing seamless integration with various existing core-banking systems. This has facilitated the development of a wider range of services for its retail customers like real time top ups in the case of mobile phone credit, utility bills payment, account transfers etc. Corporate customers are also increasingly utilizing Oman Arab Bank’s services for activities like transaction processing, payroll processing including e-banking services around the clock.


BankMuscat adopts benchmark HR process to mould finest Omani talents

MUSCAT, 22 November 2011 – BankMuscat, the leading financial services provider in the Sultanate, through its Human Resources Management (HRM) department, has given the master craftsman’s touch, taking meticulous care that goes into moulding the finest Omani talents. Over the years, the Bank has adopted innovative strategies to equip Omani staff to take up leadership positions in tandem with future challenges. Scripting benchmark human resources development processes, the HRM role primarily revolves around as a planner and change agent.

The Bank has developed a comprehensive Learning & Development strategy for skill and knowledge enhancement vis-à-vis the requirement of various departments. The multi-skill development programmes have benefited a large number of staff.
BankMuscat has a high level of commitment towards its people, encouraging them to take ownership and responsibility and contribute to the growth of the organisation. The Bank continuously invests to build human capacity and create career opportunities for highly-qualified Omani nationals. The Bank has been able to derive maximum mileage out of its HR processes as most of its middle and senior management cadres are drawn from within the Bank.

BankMuscat has the distinction of outstanding Omani leadership at all levels. In recognition of notable contributions to the banking and financial sector in Oman and the GCC region, AbdulRazak Ali Issa, Chief Executive, earned a prominent position among the 500 world’s most influential Arabs this year. AbdulRazak was ranked 111th  in ‘Power 500 – The world’s most influential Arabs’ listing by Arabian Business magazine.

Other notable recognitions this year for Omani leadership include the HR Leadership Award conferred on Salim Al Kaabi, AGM - HRM, in recognition of his contributions by the Employer Branding Institute, CMO Asia.


NBO to highlight CSR initiatives at Oman's First Volunteer Expo 2011, in December

Muscat: National Bank of Oman (NBO), in keeping with its Corporate Social Responsibility strategy, and its commitment towards CSR activities in the Sultanate, recently announced its participation, as a Gold Sponsor, of the Volunteer Expo, scheduled to be held in December 2011.

The Sultanate's first Volunteer Expo will coincide with His Majesty Sultan Qaboos Prize for Voluntary Work as well as with ‘Voluntary Day’. Featuring more than 100 Government and Non-Government Organisations showcasing their programmes on Corporate Social Responsibility and Volunteerism, Oman's first Volunteer Expo 2011 is scheduled to be held from 5th -7th December 2011, at the Oman International Exhibition Center.

NBO’s participation is a confirmation of its continuing commitment to endorse voluntary initiatives by leveraging and utilizing the Bank’s financial services expertise in the area of CSR. This includes Employee Volunteers – utilizing their skill sets with the non-profits as well as financially supporting non-profits to help awareness of that particular non-profit acting as good corporate citizenship.


Support for Society The Bank launches various major initiatives as part of its efforts aimed at providing support for Omani society in the field of education and development. The Bank provided summer training opportunities for students in different dep

Al Kaabi said: “BankMuscat’s ability to sustain achievements and successes over the years is attributable to the efforts and skills of staff who serve with a sense of belonging to the institution as one family. The Bank’s staff retention strategy stems from its commitment to offer the best opportunities to Omani staff. The Bank focuses on refining and upgrading their skills to confront the challenges ahead.”

A recent Employee Satisfaction Survey conducted by the Bank revealed that the overall satisfaction index improved by 0.5 percentage point to 69.5 per cent compared to the previous year. Major suggestions to make the Bank a better place to work are being evaluated to provide improved satisfaction levels.



November 20th 2011, Muscat. BankDhofar recently held a press conference at the Crowne Plaza Hotel to announce the launch of its Corporate Social Responsibility initiative.  The Bank has decided to begin by focusing on one of the most serious issues today: diabetes awareness.

With instances of Diabetes on the rise, BankDhofar will work closely with Oman Diabetes Association (ODA) to help the people of Oman to become aware of Diabetes and to get a broader understanding of how it can be managed and prevented. The programme, which will be conducted across the country, will educate people about simple, yet effective measures to prevent the disease.

The Bank will be the main Sponsor of Diabetes Awareness Day 2011, which takes place on November 24th. As a token of support to the Association, the Bank presented a RO.12,000 Rials cheque to the Association.


First bank in Oman to create safety management system BankMuscat launches global benchmark HSE initiative

MUSCAT, 19 November 2011 – BankMuscat, the leading financial services provider in the Sultanate, on Saturday (19 November 2011) announced a major Health, Safety and Environmental (HSE) initiative.



[November 2011, Abu Dhabi] BankDhofar, was honored by the by the GCC Labor Council of Ministers for its systematic efforts in national manpower employment. The ceremony was held at Emirates Palace under the auspices of H.E Saqar Ghubash,  Minister of Manpower, UAE.

BankDhofar was the only Bank in Oman to have been rewarded the recognition of such a prestigious award. AGM – Human Resources of BankDhofar Mr. Mohammed Al – Balushi received the award on behalf of the Bank.


Renaissance Declares Q3 2011 Interim Results.

15 Nov. Muscat. Renaissance Services has declared its interim results
for the nine months ended 30 September 2011. Renaissance has achieved
revenues of Rial 206 million (US$ 535.6 million), an increase from
Rial 187.3 (US$ 486.5 million) or 10%, recorded in the corresponding
period last year.

Samir Fancy, Chairman of Renaissance Services, stated in the quarterly
statement, “Renaissance has a strong track record of 10 consecutive
years of delivering growing profits.  However, in 2011 we experienced
a number of setbacks. Nevertheless, continuing revenue growth
underlines the enduring value of the Renaissance franchise.


Page 155 of 210