Saturday, Apr 18th

Last update03:17:08 PM GMT

You are here: Finance & Economy Banking


Bank Sohar Education Center conducts 10-day training course for new employees

10-day course for 11 staff titled – “Foundation Program – Branch Banking” 

Muscat, January 26, 2014: Bank Sohar, one of the leading banks in Oman, strongly believes that investment in training and development are the keys to operational excellence and the overall success of the bank. Therefore, in its consistent endeavor to develop the skills of its valued staff, Bank Sohar recently  organized a ten-day training course entitled “Foundation Program - Branch Banking” for 11 new employees from various branches and units.


Meethaq seminar highlights risks, core legal issues in Islamic banking

MUSCAT, 25 January 2014 – Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, in association with Sahar Askalan Legal Advocacy & Consultancy, hosted a seminar which highlighted risks and core legal issues in Islamic banking.

Oliver Agha, Partner, Head of Islamic Finance & MENA Practices, Holland & Knight – Abu Dhabi, addressed the seminar at Bank Muscat head office, attended by Islamic banking representatives in the Sultanate. Agha shared his insights on ‘Islamic finance risks and how to avoid them’ as well as ‘Core legal risks, documentation issues and standardisation’ in Islamic banking.


Move To Set Up New GCC Bank For Joint Investment

Albert Fahil
The fourth edition of the Oman Economic Forum will be held on March 18 and 19 at Al Bustan Palace, Ritz Carlton, Muscat. The Forum which is organized by the Ministry of Commerce and Industry, Al-Iktissad Wal-aamal Group with the Capital Markets Authority, Muscat Securities Market, Central Bank of Oman and Oman Chamber of Commerce and Industry will focus on the various aspects of investments that help develop the Kingdom. It will also discuss the ninth five year plan of the government and how to improve small and medium enterprises in Oman.

Kuwait Financial Centre recently released its evaluation of the GCC markets for the year 2014. It shows the real estate sector in the GCC will boost in the year supported by banks and financial institutions. According to the release, GCC economic growth will be at 4 percent in 2014 and the revenue for the entire year will be at 12 percent. This week the minister of investment of Egypt stated that the country needs urgent investments in its infrastructure and new projects. He said so when he visited the Mall of the Emirates recently.


Bank Muscat extends baituna home finance for EV project in Wadi Kabir

MUSCAT, 22 January 2014 – Bank Muscat, the flagship financial services provider in the Sultanate, and EV Group signed a memorandum of understanding (MoU) to provide attractive baituna housing finance for the group’s Evening Homes residential units in Al Wadi al Kabir. Amjad Iqbal al Lawati, Head – Products and Service Management, and Vicky Thomas, CEO and Country Manager of EV Group, signed the MoU at the bank’s head office.

Amjad Iqbal al Lawati said: “The real estate sector is a major component of the national economy and Bank Muscat is committed to extending all possible support to achieve the objective of a ‘home for every family’, especially youth. baituna home finance is aimed at offering citizens and residents easy access to mortgage finance, thereby contributing to the revitalisation of the real estate sector and enhancing its role in the national economy.”

Vicky Thomas said: “The objective of EV Group is to provide quality homes at affordable prices. We are happy to join hands with Bank Muscat in extending attractive home deals for Omanis. The synergy between the two institutions will benefit citizens across Oman to fulfill their dream homes.”


Bank Sohar Hands Over Grand Draw Prize Cheques to Al Mumayaz Winners

Muscat, January 22, 2014:  Al Mumayaz Savings Scheme 2013 Year End Grand Draws held last week where 13 lucky customers won prizes totaling RO 777,000. The Draws were conducted during Annual Retail Banking Get-Together party at the InterContinental Hotel under the auspices of H.E. Sheikh Khalid bin Omar bin Said al Marhoon, the Minister of Civil Services, and was attended by hundreds of guests, who enjoyed the activities of the event and the dinner. A day after the event, the Senior management team from the Retail banking division, headed by Mr. R. Narasimhan, the DGM and Head of Retail Banking, delivered the grand draw prize to the winner of RO 600,000 as well as to the winner of the Exclusive Draw of RO 100,000 at a special ceremony held at Nizwa branch since both of the winners were valued customers from that branch.

The ceremony was held under the auspices of Al Sayyid Fakher Al Deen Hilal Al Busaidi, the Assistant Wali of Nizwa, and in presences of key officials and local dignitaries of Wilayyat Nizwa. Among retail management team of the bank was Mr Khamis Al Rahbi, AGM of Branches and Mr. Redha Al Lawatia, Chief Manager Liabilities, Mr. Juma Al Dawoodi, Manager Nizwa Branch and Mr. Abdullah Al Mahmoodi, Chief Manager, Events and Promotions.

During the ceremony the Bahla Branch Head, Mr. Hamed Al Hanai delivered a welcome address and cheques were handed over to the winners by the guest of the honor and the retail management team. The ceremony ended with an appreciation speech delivered by Mr. R. Narasimhan.


Employees successfully complete National Bank of Oman’s core banking programme

19 new employees successfully completed the National Bank of Oman Core Banking Programme

Muscat, Oman; January, 2014: National Bank of Oman announced today that 19 employees have successfully completed the Academy of Excellence’s flagship programme entitled ‘NBO Core Banking Programme. This course is designed specifically for the bank’s newly recruited staff and the graduates were presented their certificates at a ceremony attended by Deputy CEO Ahmed Al Musalmi and other members of the senior management team.

19 young Omanis took part on this unique training programme which incorporated a comprehensive offering of functional, technical and soft-skills covering all aspects of banking.The programme,which has been specially developed by the Academy of Excellence, is designed to equip new starters with a sound understanding of all areas of banking including counting and handling currency, processing vouchers and posting transactions.

The programme was delivered through introducing a series of real-life situations that employees will encounter on a day to day basis, andstudents were assessed each week to evaluate their understanding to ensure they were benefitting from the course.


Bank Sohar Announces Annual Financial Results for 2013

Reports Net Profit Growth of 16.8 Percent for 2013

Muscat, 22 January 2014: Bank Sohar has announced the financial results for the year ended 31st December’2013, achieving a Net Profit of 26.871 million Omani Rials for the period. The profit number is, however, subject to approval by the Board of Bank Sohar and the Central Bank of Oman.

Bank Sohar’s Chief Executive Officer, Dr. Mohamed Abdulaziz Kalmoor, said: “ It is indeed remarkable to continue achieving such outstanding results despite an increasingly challenging environment. The current year’s results are even more laudable as they come on the heals of the extraordinary 58.73%  growth in profits achieved last year. This is a reflection of a multitude of interweaving and reinforcing factors, starting with a unique vision, coupled with a work force that is passionate, driven, and agile”.


al Mazyona RO 1 million grand prize draw to enliven Muscat Festival

MUSCAT, 21 January 2014 –  Marking the culmination of the 2013 al Mazyona savings scheme offering a prize basket of RO 7 million, Bank Muscat will host the grand year-end prize draw to pick winners of  Oman’s biggest RO 1 million jackpot on Saturday (25 January) as part of Muscat Festival events in Naseem Garden. Entertainment and fun activities have been lined up for the family event aimed at educating people on prudent savings habits. Attractive gifts and prizes will be distributed to children and winners of spot competitions on the occasion.

In preparation for al Mazyona grand prize draw, celebrations were organised in all governorates of the Sultanate. The series of big prizes from Bank Muscat is the major attraction of al Mazyona which offers fair and transparent winning chances for all segments of customers.

The RO 1 million grand prize will be shared by 10 customers covering all the governorates, including one Priority Banking customer, who will receive RO 100,000 each. Customers who maintained a minimum balance of RO 1000 for the last quarter of 2013 are eligible for the grand prize draw.


Standard Chartered Oman awards the Al Massar graduates

Standard Chartered recently hosted the Al Massar graduation for 21 Omani nationals at the Shangri-La's Barr Al Jissah Resort & Spa in Muscat. The Al Massar is a leadership development initiative that was launched two years ago to promote and develop talent at the Bank. The programme provides participants with the necessary tools and knowledge to help them perform to a higher level in their current roles as well as assist them in career progression.

Sayyid Khalifa Al Said, Country HR Head Standard Chartered Oman said "We are in the business of attracting highly talented people and supporting them with the resources to maximise their growth. The Al Massar programme which was conducted by Shaima Al Riyami is a great way to build and sustain a strong pipeline of local talent and support them with the right skills and experience to lead the Bank. Each Al Massar session provides participants with the opportunity to meet and interact with senior officials and other senior executives in the Bank, who are there to answer questions and share stories of their own experiences”.

Standard Chartered is committed to creating a dynamic and engaged environment in which people can grow; individuals can make a difference and leaders can contribute to the socio-economic development of the country.

Page 75 of 250