IFC Capitalization Fund is a global equity and subordinated debt fund founded by International Finance Corporation (IFC), a member of the World Bank group, and the Japan Bank for International Cooperation. It aims to support banks considered vital to the financial system of emerging market countries.
The investment will provide long-term capital resources to BankMuscat as it continues to expand its financial services. The facility is focused on expanding operations of Al Wathbah, the Bank’s small and medium enterprises (SME) division, and baituna, the housing finance unit. It will also support cross-border investments within the region, facilitating greater economic and financial integration.
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.
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.
today's session after a decline witnessed in the previous session to
close at 5679 points compared to 5663 points previously, constituting
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.
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 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.
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.”
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. “
- Oman Fixed Income Fund announces second dividend for 2011
- S&P raises BankMuscat long-term rating to 'A-', outlook stable
- ahlibank conducts Information security Awareness training for staff
- BankDhofar raises OMR 50 million subordinated loan
- BankMuscat donates mobility aid equipment to physically challenged citizens
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