BankMuscat

Bank Muscat
Public
Industry Finance and Insurance
Founded Muscat
Headquarters Muscat, Oman
Key people
 AbdulRazak Ali Issa, CEO
Products Financial Services
Revenue Increase US$ 1.4 Billion (2016)[1]
Increase US$ 459 Million (2016)
Total assets Increase US$ 28.1 Billion (2016)
Number of employees
 3,024
Website www.bankmuscat.com

Bank Muscat is the leading financial services provider in the Sultanate of Oman with a presence in corporate banking, retail banking, investment banking, treasury, private banking and asset management. The bank, with assets worth US$28.1 billion in 2016, has the largest network in Oman exceeding 130 branches, 386 ATMs, 131 CDMs and 4500 PoS terminals as well as a brokerage subsidiary BankMuscat Direct.

The international operations consist of a branch each in Riyadh, Saudi Arabia and Kuwait and a representative office in Dubai, UAE. Bank Muscat currently owns 49% of BMI Bank B.S.C ©, an independent bank in Bahrain. The Bank also has a 43% stake in the Mangal Keshav Group, one of the oldest and most respected securities houses in the fast-growing Indian equities market, 97% stake in Muscat Capital LLC, a brokerage and investment banking entity in Saudi Arabia, besides a stake in Silkbank Ltd. in Pakistan.

Bank Muscat was voted the ‘Best Bank in Oman’ for seven years by The Banker, FT London; nine years in a row by Global Finance and Euromoney. Bank Muscat is the recipient of the Hewitt recognition as the Middle East’s Best Employer 2009. The Bank was declared an Investor in People (IiP) organisation in January 2007, becoming the first banking organisation in the MENA region to be awarded the global recognition. In 2004, Bank Muscat became the first bank in the Middle East to be completely ISO 9000:2000 certified.

In February 2016, the United States Department of the Treasury secretly issued a license to Bank Muscat to convert $5.7 billion in Iranian overseas reserves from Omani rials into euros via United States dollars, something not normally permitted due to United States sanctions against Iran.[2]

References

  1. ↑ "Bank Muscat on the Forbes Global 2000 List". forbes.com.
  2. ↑ Lederman, Josh; Lee, Matthew (June 6, 2018). "Secret Obama-era permit let Iran convert funds to dollars". The Associated Press. The Treasury Department license, issued in February 2016 and never disclosed, would have allowed Iran to convert $5.7 billion it held at Oman’s Bank of Muscat from Omani rials into euros by exchanging them first into dollars.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.