Monday, Sep 01st

Last update11:42:10 AM GMT

You are here: Finance & Economy Banking

Banking

HSBC Global Asset Management's Quarterly Outlook: Has The Developed World Gone Ex-Growth?

DUBAI, UAE, May 16, 2013 /PRNewswire/ --

Emerging markets have become the engines of global growth as their global influence increases, leaving developed markets in their shade, according to HSBC Global Asset Management.

 

In its latest IQ (Investment Quarterly) global market outlook, HSBC Global Asset Management indicates that post-crisis growth is likely to remain subdued for the next few years as there will be a structural overhang on growth from developed world leverage and population ageing. Compounding the problem, monetary policy has lost much of its power to stimulate in this balance-sheet constrained world and the need for fiscal consolidation will also limit the policy response.

Read more...

al Mazyona to reward customers with RO 500,000 in quarterly prize draw

MUSCAT, 15 May 2013 – The 2013 al Mazyona savings scheme offering a prize basket of RO 7 million from Bank Muscat will pick the first quarterly prize draw winners on Saturday (18 May 2013). The quarterly prize money of RO 500,000 will be shared by 10 customers covering all the governorates, including one Priority Banking customer, who will receive RO 50,000 each.

 

Customers maintaining a minimum balance of RO 1000 for 3 months get a chance to win the big prize of RO 50,000 during the quarters ending March, June and September. The longer the saving, higher the chances to win.

 

The prize draw celebrations are open to all, beginning at 7.30 pm at Muscat Grand Mall. The family event includes fun activities aimed at educating people on prudent savings habits. Attractive gifts and prizes will be distributed to children and winners of spot competitions.

 

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. al Mazyona reaffirms the bank's vision and constant efforts to fulfill the aspirations and ambitions of the largest banking family in Oman. The flagship savings scheme has won the hearts of people and succeeded in linking to issues benefitting society. The bank attaches great importance to inculcating prudent savings and spending habits and has tailored al Mazyona scheme with this objective in mind.

Read more...

HSBC BANK OMAN HOSTS HSBC MIDDLE EAST’S BOARD MEETING

Muscat, May 15th 2013 – HSBC Bank Oman S.A.O.G. recently hosted HSBC Bank Middle East Ltd.’s (HBME) Board of Directors’ meeting at its Head Office in Al Khuwair. The meeting reinforced the commitment of the wider HSBC Group to the Sultanate to strengthen and grow its operations in Oman. HBME has more than 250 offices across the Middle East & North Africa that stretch from Egypt to Pakistan with a workforce of over 12,000 employees.

"It was an honour to host the Board of Directors’ meeting of HSBC Bank Middle East here in Oman,” said Ewan Stirling, CEO of HSBC Bank Oman.

He added, “In addition to fulfilling their board responsibilities, we were able to share our plans for HSBC Bank Oman to become the leading bank in the Sultanate, outlining our commitment to the country, to leverage our global strengths locally and to provide great customer service at all times."

During the Board’s visit to the Sultanate, David Eldon, Chairman of HBME, along with Simon Cooper, CEO of HBME and Chairman of HSBC Bank Oman, paid a courtesy visit to the Central Bank of Oman (CBO). Eldon and Cooper updated H.E. Hamood bin Sangour Al Zadjali, Executive President of CBO, on HBME’s latest developments and achievements in Oman and throughout the region.

Read more...

Bank Muscat to announce more Green Sports beneficiaries

MUSCAT, 14 May 2013 – Bank Muscat, the flagship financial services provider in the Sultanate, will soon announce beneficiary sports clubs and teams across the Sultanate for funding to green their playing fields in 2013. The Green Sports initiative launched by Bank Muscat, as part of a unique Corporate Social Responsibility (CSR) project aimed at contributing to developing a sporting nation, is presently evaluating funding applications in its second year of operations.

Concluding the review visits, a committee overseeing the implementation of Green Sports visited 2 teams in Muscat and 8 teams in Sharqiyah region to assess their facilities as part of the 2013 applications for greening the playing fields.

Yousuf Al Rawahi, Regional Manager – Sharqiyah, said: “We are impressed with the keen response of clubs and teams to the Green Sports initiative and the bank will support all deserving clubs across the Sultanate to develop lush green fields. The initiative is a strategic decision by the bank in collaboration with the Ministry of Sports Affairs to promote Oman as a sporting nation.”

The Green Sports initiative was launched by the bank in 2012 to lay the foundation at the grass-root level for a sustainable sports infrastructure across Oman. The 5-year programme supports clubs and teams across Oman to green their playing fields. The bank recognises that local clubs wield immense influence on neighbourhood communities, especially youth, hence clubs with modern infrastructure facilities can help raise sporting heroes for the country.

Read more...

Bank Muscat completes RO 75 million private placement with IFC

12.00

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Calibri","sans-serif"; mso-bidi-font-family:"Times New Roman";}

MUSCAT, 13 May 2013 – Bank Muscat, the flagship financial services provider in the Sultanate, on Monday (13 May 2013) announced the completion of RO 75 million private placement transaction with International Finance Corporation (IFC), a member of the World Bank Group, and IFC Capitalization Fund. The private placement amounting to 5.28 per cent shareholding, stems from the bank’s overall capital augmentation plan, which will be utilised to further grow the capital base and enhance access to finance for small and medium enterprises and women entrepreneurs.

The high profile ceremony at the bank’s head office marking the IFC private placement was attended by H.E. Shaikh Abdullah Salim Al Salmi, Executive President of the Capital Market Authority, and Dimitris Tsitsiragos, IFC Vice President for Europe, Central Asia, Middle East and North Africa, in the presence of Shaikh Khalid bin Mustahail Al Mashani, Chairman, Sulaiman bin Mohamed Al Yahyai, Vice-Chairman, and AbdulRazak Ali Issa, Chief Executive of Bank Muscat.

Read more...

HSBC BANK OMAN’S ‘JOURNEY TO SUCCESS’ CREATES CLEAR VISION FOR THE FUTURE

Muscat, May 13th 2013 - HSBC Bank Oman S.A.O.G. recently launched a series of innovative and interactive events for all staff across the Sultanate.  The events, titled ‘Our Journey To Success’, have been designed to share the bank’s strategy, vision and values in a fun and informative way, following the merger of Oman International Bank (OIB) and HSBC Bank Middle East Ltd.’s Oman operations last year. The full day events are being attended by all staff and have been arranged in Nizwa, Muscat, Sohar and Salalah, to make it easier for staff to attend.

Ewan Stirling, CEO of HSBC Bank Oman said, “When Oman International Bank and HSBC merged last year to become HSBC Bank Oman, combining the global strengths of HSBC Group with the local expertise of OIB, we formed a clear vision to become the leading bank in Oman.”

He added, “To achieve our vision, every member of staff needs to understand our strategy to achieve this and, as importantly, the values we must champion in our dealings with each other, our customers and the communities we serve.  The events are inspirational and by asking everyone to make a personal pledge, we are creating a huge amount of momentum for the future.”

Read more...

Standard Chartered introduces VISA Infinite Credit Card Bank introduces the ‘absolutely everything card’

Highlights:

  • The most exclusive credit card in the UAE, by Standard Chartered Bank
  • Cardholders to get complimentary golf rounds at the UAE’s top golf clubs and unlimited free access to Fitness First clubs across the UAE
  • Concierge service for cardholders’ every need and want
  • Unlimited access to airport lounges, marhaba meet and greet services and limousine at Dubai International Airport
  • Up to 50% discounts at premium merchants, high end retailers and dining outlets
  • The best airline reward points redemption program on purchases across all airlines

Dubai, UAE, 13 May, 2013 – Standard Chartered has launched, in partnership with VISA, the Standard Chartered VISA Infinite Credit Card, the UAE’s most exclusive credit card, offering a wide array of luxury lifestyle privileges and unparalleled convenience to cardholders.

 

Available to customers in the UAE, the Standard Chartered VISA Infinite Credit Card has been designed to provide unparalleled privileges and benefits to cardholders including access to the most exclusive golf clubs in the UAE as well as unlimited access to Fitness First centers across the country.

 

Matching the lifestyle needs of customers, the Standard Chartered VISA Infinite Credit Card also offers the most exclusive concierge  program to cater to the every whim of a card holder from the most basic of tasks, paying utility bills, to the more extravagant request of booking a private jet for a quick weekend break.

Read more...

Bank Muscat all set to finalise RO 75 million private placement with IFC

MUSCAT, 12 May 2013 – Bank Muscat, the flagship financial services provider in the Sultanate, marks a ceremony today (Monday 13 May 2013) to announce the completion of RO 75 million private placement transaction with International Finance Corporation (IFC), a member of the World Bank Group, and IFC Capitalization Fund. The private placement, which stems from the bank’s overall capital augmentation plan, reflects yet another positive initiative for further growth and identification of new business opportunities.

The high profile ceremony at the bank’s head office will be attended by Shaikh Khalid bin Mustahail Al Mashani, Chairman of Bank Muscat, Dimitris Tsitsiragos, IFC Vice President for Europe, Central Asia, Middle East and North Africa, and top officials of the Central Bank of Oman and Capital Market Authority.

The existing relations between Bank Muscat and IFC date back to 2005 and IFC has been partnering the bank in many business and developmental aspects, including promoting SME financing, mortgage financing and technical support on specialised areas such as SME development in Oman, trade facilities, and overseas business.

Read more...

Meethaq offers attractive home finance for Zawaya’s Al Hilal project

12.00

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;}

MUSCAT, 11 May 2013 – Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, and Zawaya Development Company signed an agreement to provide attractive Meethaq home finance for Zawaya’s Al Hilal project in Baushar. Sulaiman Al Harthy, Group General Manager - Islamic Banking, and Alwaleed Al Kindi, Executive Partner of Zawaya Development Company, signed the agreement on the sidelines of Oman Islamic Economic Forum (OIEF) held recently.

Sulaiman Al Harthy said: “Meethaq’s Al Bait home finance provides the right financial tool to fulfill the aspirations of a dream home. The innovative Shari’a based product has evoked good response. The real estate sector is a major component of the national economy and Meethaq Islamic Banking is committed to extending all support aimed at offering citizens easy access to Shari’a based home finance.

Alwaleed Al Kindi said: “The objective of Zawaya Development Company is to provide quality homes at affordable prices. We are happy to join hands with Meethaq Islamic Banking in extending attractive home deals for Omanis. The synergy between the two institutions will benefit citizens across Oman to fulfill their dream homes.”

Read more...

Page 75 of 210