In keeping with its role as the leading financial services provider in Oman, Bank Muscat has won the Wells Fargo Operations Excellence Award. Recipients of this award have traditionally demonstrated superior transaction processing quality, resulting in higher efficiencies, faster payments, cost reductions and honoured commitments to operational excellence to their customers. Wells Fargo recognised the bank’s commitment to the highest standards of quality in meeting the stringent criteria for quickly and seamlessly processing international payments.
Bank Muscat’s exceptional quality of SWIFT messages on dollar payment and an outstanding error-free rate for remittances were among the main criteria, which were highlighted by this award. In fact, Wells Fargo representatives commended the operational teams involved in processing dollar payments at Bank Muscat for the error-free rate maintained consistently throughout the high volume of remittances processed during the year. The commendation letter from the correspondent bank appreciated the Bank Muscat’s commitment to operational excellence and the valued partnership with Wells Fargo.
National Bank of Oman Continues To Spread Joy, Giving Away OMR 565,000 In The Al Kanz June Mega Draw
Encouraging customers to save and win with its Al Kanz Savings Scheme, National Bank of Oman (NBO) has given away OMR 565,000 in the June edition of its popular prize draw. Two lucky winners received OMR 250,000 each in the largest give-away of the year, the half-yearly Mega Draw. Held at the Bank’s headquarters in Athaiba, the draw also rewarded OMR 500 each to 30 Salary Transfer winners, OMR 2,000 each to five Badeel card-holders who also maintain an Al Kanz account, and OMR 10,000 each to four winners in an exclusive draw for Mazaya customers. Under the theme “Making your dreams a reality”, this year’s scheme will give away OMR 3.251 million in prize money by the end of the year.
OAB Transforms into a Public Joint Stock Company with Listed Shares on MSM
Oman Arab Bank (OAB) saw its recent transformation into a public joint-stock company by listing its shares on the Muscat Securities Market (MSM) on July 6, 2020. This is the final step after the completion of its merger with Alizz Islamic Bank (AIB), which began nearly two years ago. The ceremony saw the attendance of Khalid bin Mohammad Al Zubair, Chairman of Oman International Development and Investment Company (OMINVEST), Abdulaziz bin Mohammed Al Balushi, Board Member of OAB, and Rashad bin Ali Al Musafir, CEO of OAB. Also in attendance was Ahmed bin Saleh Al Marhoon, Director General of Muscat Securities Market (MSM). The total number of shares listed was 1,669,410,000, at a listing price equivalent to 213 baisas per share, with a total value equivalent to OMR 355,584,330.