Banking

2nd January 2012 Muscat:  BankDhofar has been ranked in the Top 20 Companies in Oman in a survey done by Oman Economic Review in association with Mukhtar Hassan an acclaimed financial analyst and results audited and verified by KPMG. The Bank ranked 4th in the top five by profit, 4th in the top five by growth of profit, and 3rd in the top five by market capitalization.

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.

MUSCAT, 1 January 2012 - Twenty years on, Oman’s popular al Mazyona Savings Scheme from BankMuscat continues to cast its spell, winning the hearts of citizens and residents across the Sultanate. All these years, al Mazyona has led the way, rewarding customers with life-changing experiences and inculcating a strong savings culture in Oman.

Albert Fahil

The share value of 18 public and private companies was unchanged while shares of 18 were gone down and 13 were static of Muscat Securities Market on December 27, 2011. The MSM Index recorded a decrease of 8.82 (0.16%) to the day high value of 5,678.17 points at the day’s end. The Dubai Financial Market surged by 4.89 (0.37%) to the day high value of 1,337.25 points and the Bahrain Stocks Exchange plummeted by 3.80 (0.33%) to the day high value of 1,146.16 points. The Kuwait Stocks Exchange too drooped by 14.20 (0.24%) to the day high value of 5,805.90 points and the Qatar Stocks Exchange surged by 8.29 (0.09%) to the day high value of 8,815.58 points. The Saudi Stocks Exchange recorded an increase of 18.03 (0.28%) to the day high value of 6,148.77 points showing mixed results of overall regional stocks markets.

Sri Lankan Airlines has increased its flight frequency to Gulf States due to increasing tourist arrivals to the Island from these countries. The flight schedule to the Muscat city, which was earlier only two flights a week, has been increased to four flights a week now. The flights are scheduled on Mondays, Wednesdays, Thursdays and Sundays. From Doha to Colombo flights too have been increased whereas only five flights were earlier, now seven flights are in operations. The other destinations such as Abu Dhabi, Kuwait, Dubai, Jeddah and Riyad would also be with more Sri Lankan Air flights very soon, a top official from the airline stated.

Muscat, Dec 28 (ONA) ---  Muscat Securities Market (MSM) rose in
today's session after a decline witnessed in the previous session to
close at 5679 points compared to 5663 points previously, constituting
(0.28%).

All of the main sectors rose, most importantly the service sector as
it rose by (0.72%) to close at 2558 points compared to 2554 points
previously, followed by the industry sector by (0.59%) to close at
5922 points compared to 5887 points, as well as the financial sector
by (0.19%) to close at 6375 points compared to 6363 points previously.

MUSCAT, 28 December 2011– Curtains rang down on the 40-day BankMuscat Shopping Festival with reverberating excitement as Alla Barhan Al Saman won the grand prize of RO 10,000 in the fifth and concluding weekly draw held at Qurum City Centre. Adding thrill to the festival, Mohammed Bader Al Obaidani and Ahmed Hamed Al Ismaily received keys for two Infiniti cars presented by City Centre. Several BankMuscat cardholders also won high value prizes, including RO 1000 cash prizes, holiday packages, economy class tickets to Oman Air destinations, smart phones and gift vouchers at the mega event.

The festival coinciding with the 41st National Day celebrations was supported by Visa, Omantel, Oman Air and Travel Point, bringing together prominent hyper markets, shopping malls, retail outlets, travel and tours agencies, hotels, restaurants and much more.

Spreading the festival cheer, BankMuscat had lined up five weekly draws offering more than 200 prizes, including 25 cash prizes of RO 1000 each. The highlight of the final draw was the mega cash prize of RO 10,000, besides the two Infiniti cars offered by City Centre to BankMuscat cardholders for shopping at participating City Centre outlets.

As part of its commitment to human resources development stemming from the Royal directives of His Majesty Sultan Qaboos bin Said, Ahlibank has tied up with College of Banking and Financial Studies (CBFS) for the training of its staff in different areas of banking and managerial skills, in order to groom them for taking up higher responsibilities in future.

As an initial step in this direction, Ahlibank  leveraged on the ongoing alliance of CBFS with the globally reputed Queens School of Business, Canada, to organize a Senior leadership program for its entire top management recently. The focus of this training, a joint presentation of CBFS and Queens, was on strengthening the strategic skills of the participants for the benefit of internal and external customers. The training was conducted by Dr. Bill Blake, Professor of Organisational behavior in MBA and Executive Development programs with Queens , Canada.  

MUSCAT, 27 December 2011 – BankMuscat’s Meethaq Islamic Banking operations, awaiting approval from the Central Bank of Oman, has won the Pioneer of Islamic Banking in the Sultanate Award from Global Islamic Finance.

The Global Islamic Finance Award (GIFA) is the first of its kind award in Islamic banking and finance. Based on an objective proprietary methodology – developed and operated by Edbiz Consulting – the awards recognize and celebrate success and contributions of individuals and institutions in the Islamic financial services industry.

Sulaiman Al Harthy, Group DGM – Consumer Banking, received the award during the ceremony coinciding with the Oman Economic Islamic Forum. Sulaiman Al Harthy said: “BankMuscat is the first financial institution in the Sultanate to introduce Shariah compliant products to the public. Meethaq, the pioneer of Islamic banking in Oman, will reach out to customers with the promise of being true to their beliefs, offering all the advantages of banking by following the principles of Shariah law. The Meethaq suite of banking products which combine traditional values with modernity are in the pipeline to give the choice of staying true to one’s values. Inspired by faith and a tradition of trust, Meethaq will help customers stay true to their values.”

December 26th  2011, Muscat, BankDhofar recently honored  high  achievers in Oman as part of the Al Mar’a Excellence Awards 2011. As strategic partner of the event, the Bank presented  an award, for the Most Promising Woman of the Year.

Speaking at the event, Mr. Tony Mahoney, CEO, BankDhofar said “All of the women here tonight are breaking new grounds. We are proud to be presenting  this  award to  a young lady who is  among the region’s most talented and successful women. “