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Bank Sohar Employees Support ‘Live Red’ Campaign with Blood Donations

Muscat, August 21, 2013: Bank Sohar recently organised a blood donation day under the slogan ‘Live Red’. The campaign, held in collaboration with KIMS Oman Hospital, is part of the ongoing efforts by Bank Sohar to promote healthy human values and show commitment to the community.

Highlighting the importance of such an initiative, Ms. Munira Abdulnabi Macki, DGM Human Resource and Corporate Support at Bank Sohar, said: “We have always taken our social responsibility seriously, and we place high value in serving the community by all means. The ‘Live Red’ campaign aims to develop a sense of shared humanitarian cooperation by providing support and assistance to the community. We hope this initiative by Bank Sohar will encourage people to participate in a good cause.”

Ms. Munira Abdulnabi Macki praised the high turnout from Bank Sohar employees who supported the life-saving awareness and demonstrate solidarity among all segments of society. “Blood is crucial in saving the lives of patients requiring transfusions. Many people donate blood for family members in emergencies, but we want to emphasise the message and spread the public awareness even more. Thus, we started with our employees who have shown their dedication and sincere desire to help others time and again. We, both as corporate and as individuals would like to share these values, and we should work together to make a difference,” she added.


National Bank of Oman stall makes waves at KhareefFestival in Salalah

the first commercial bank in Oman, National Bank of Oman has a history of excellence in customer service which continues to grow with every passing year. The Bank’s mission has always been to reach out to customers across the nation through easy and accessible touchpoints. In line with this, the Bank’s enthusiastic commitment to the Salalah Tourism Festival was reflected in its vibrant stall, designed especially for the Khareef Festival.

The NBO stall comprises three sections, reflecting the spectrum of the Bank’s products and services: Retail Banking, Muzn Islamic Banking and a special section for Sadara Wealth Management Services. Bank representatives were on hand in every section to assist customers and answer queries. Relevant literature detailing the products and services was also displayed. An ATM at the stall made it even more convenient for customers to access their money before embarking on a shopping spree.

“The National Bank of Oman’s stall’s clean lines and contemporary style reflect the spirit of the Bank. Its striking looks and prime location in the Festival Zone has attracted many visitors, eager to know more about the benefits of banking with NBO” said Mr Abdul Qadir Ahmed, Deputy General Manager - Head Retail Business.


al Mazyona to host RO 500,000 prize draw at Salalah Tourism Festival

MUSCAT, 20 December 2013 – Bank Muscat, the flagship financial institution in the Sultanate, will host the second al Mazyona quarterly prize draw on Friday (23 August) as part of Salalah Tourism Festival celebrations. The RO 500,000 prize money for the quarter ending June will be shared by 10 customers covering all the governorates, including one Priority Banking customer, who will receive RO 50,000 each.

The prize draw celebrations are open to all, beginning at 8.30 pm at the festival ground. The highlight of the family event is al Mazyona operetta featuring the heritage, culture and development of Oman. The underlying message of the traditional folklore operetta is to educate people on prudent savings habits. Attractive gifts and prizes will be distributed to children and winners of spot competitions.

As the nation’s leading financial institution, Bank Muscat seeks to utilise all opportunities in reaching out to people. Salalah Tourism Festival perfectly fits the corporate ethos of Bank Muscat in serving the largest banking family in Oman as well as visitors from around the world. While Salalah offers a rewarding experience to enjoy nature’s bounty, Bank Muscat complements this experience by facilitating banking convenience to all.


Sohar Islamic Adds Term Deposit to Its Line of Islamic Banking Services

Muscat, August 19, 2013: Since the launch of Bank Sohar’s Islamic finance solutions and services that are compliant with the Shari’ah principles, Sohar Islamic continuously provides banking solutions that aim to fulfill the customers’ needs and exceed their expectations. The Bank now offers ‘Term Deposit’ services in addition to its broad range of product and services that are fully compatible with Islamic Shari’ah principles and provide comprehensive Islamic finance solutions.

In a comment on the Term Deposit services, Bank Sohar’s CEO, Dr. Mohamed Abdulaziz Kalmoor said, “We strive to provide our customers with products and services that meet their values. We want them to achieve their goals and fulfill their banking needs by selecting from Sohar Islamic’s wide array of services and finance solutions which are completely compatible with the Shari’ah law. Sohar Islamic Term Deposit service is supervised by the highly reputed Shari’ah Supervisory Board to fulfill customers’ aspirations through trusted and secure deposit solutions.”


Bank Muscat wins best retail bank award by Asian Banking & Finance

MUSCAT, 18 August 2013 – Bank Muscat, the flagship financial institution in the Sultanate, has won the Retail Bank of the Year award by Asian Banking & Finance. The 2013 award ceremony held in Singapore honoured the very best of the region’s banks and financial institutions.

For several years, Asian Banking and Finance magazine (ABF) has been recognising the best performances of banking and finance institutions in Asia. This year, ABF recognised key banking and finance industry players which stood out with their innovative products and services for retail customers.

The awards acknowledged the 'best-of-the-best' practices in Asia's banking and finance industry, identifying new technologies, services and people contributing to significantly enhancing the banking and finance sector in Asia.

AbdulRazak Ali Issa, Chief Executive, said: “As the leading bank with a fast-growing network, Bank Muscat aims to deliver reliable, dynamic and innovative banking services to the largest banking family in Oman. The bank draws on its expertise to provide customers with the best banking products and services. We are proud to win this award which recognises the bank’s efforts and goal to maintain the leadership position in Oman.”


Bank Sohar Attains ‘Best CSR Bank Oman 2013’ Award from UK based Global Banking & Finance Review

Muscat | August 18, 2013: Cementing its position as one of Oman’s most benevolent banking institutions, Bank Sohar has been named the ‘Best Corporate Social Responsibility Bank Oman 2013’ by renowned UK based Global Banking & Finance Review.

Commenting on winning the prestigious award, Dr. Mohamed Abdulaziz Kalmoor, CEO of Bank Sohar said, “Winning this award is an indication of the distinguished record that we have achieved in CSR within the country. Supporting economic development and achieving the sustainable social development objectives encompasses every aspect of our bank’s strategic perspective.


Meethaq Shari’a Board reviews new products

MUSCAT, 17 August 2013 - The Shari’a Supervisory Board of Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, conducted its third meeting of 2013 in Jeddah, Saudi Arabia under the chairmanship of Sheikh Dr. Ali Qaradaghi, and in the presence of members - Sheikh Essam Muhammad Ishaq, Sheikh Majid Al Kindi, Abdulqader Thomas and Dr. Saeed Al Muharrami. The board reviewed Meethaq activities during the first half of 2013 and discussed the strategy for the coming period, especially Meethaq products in the pipeline as well as contracts and agreements relating to these products.


Middle East Renewable Energy Sector Needs Massive Investments

Report by Albert Fahil. Omantel grabbed the ‘Asia’s Best Employer Brand Award 2013’. This is the second time Omantel won the prestigious award and Omantel received the award at a function held in Singapore to laud the best Asian Companies in Human Resource field. Recently, Omantel concluded one of its major projects of implementing 4G and 3.5G networks in Dhofar Governorate. This was carried out to meet the demand of the high number of visitors to Dhofar during the monsoon season. Omantel installed permanent and temporary stations thereby increasing not only coverage but also the network capacity so as to meet the high demand in the season, especially broadband services.


Meanwhile, the reports from the construction sector in GCC countries emphasize that the projects in GCC countries in the field will grow by 13 percent achieving $65.5 billion at the year end. Construction of hotels, shopping centers and homes and apartments will include these new projects, the reports highlighted. The Bollywood Movie ‘Once Upon A Time in Mumbai Again’, which was filmed in Oman has gained huge popularity this time as well like the earlier one ‘Once Upon A Time in Mumbai. Oman Air supports to bring in foreign directors to the Kingdom where many beautiful sights are available for film-makers to make their dreams a reality.


New Monthly Volume Record for DGCX Indian Rupee Futures in July

•    INR futures sets new monthly volume record of 1,252,965 contracts
•    Trading volumes in July up 55% year-on-year  
•    Year-to-date volumes rise 91%

Dubai, August 14, 2013: Dubai Gold and Commodities Exchange (DGCX) recorded a robust month of trading activity  with total trade value of  US$ 44.68.  July volumes registered a significant growth of 55% over the same period last year.

DGCX’s currency segment continued to contribute a significant share of volumes, recording a year-on-year (YOY) growth of 61% with 1,450,041 contracts traded. Currency volumes were primarily driven by Indian Rupee (INR) futures, with the contract recording its highest ever monthly volume - trading 1,252,965 contracts in July, a 40% growth over the same period last year. Trading in other currency pairs such as in Euro and Yen were also increased substantially.

Total year to date (YTD) volumes rose by 91% with the Exchange having traded a total of 9,209,767 contracts in 2013. Volumes in INR futures have grown 84% from last year . Both Euro and Yen futures have also registered strong year-to-date performances, surging 266% and 78%.


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