BankMuscat wins Best Foreign Exchange Bank in Oman award

08/10/2011 00:00 AST

BankMuscat, the leading financial services provider in the Sultanate, has won, for the eighth consecutive year, the Best Foreign Exchange Bank in Oman 2011 award from Global Finance.

Global Finance with input from industry analysts, corporate executives and technology experts selected the best currency trading providers in 86 countries or regions. The best online foreign exchange systems were also identified. Criteria for choosing the winners included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.

Joseph D Giarraputo, President of Global Finance, said: “The sovereign debt problems in Europe, China’s monetary tightening and the Federal Reserve’s quantitative easing are causing volatility in the foreign exchange markets. Corporations around the world need to select a strong, knowledgeable FX bank to help them cope with the turbulence in the markets.” A multi-award winning organisation, BankMuscat’s performance has been consistently lauded by the international financial and banking community for several years, including the Bank of Year — Oman award by The Banker (Financial Times, London) and the Best Bank in Oman award by Euromoney and Global Finance. The top-notch awards reflect the best overall performance in terms of qualitative achievements and strategic initiatives.

The awards speak volumes on the unrivalled position enjoyed by BankMuscat in the Sultanate. Consistently winning prestigious global awards has helped the bank to further raise the bar on performance and adopt new initiatives that reflect excellence in performance. A keen perception of customer requirements has enabled BankMuscat to develop products and services in line with the current and emerging needs. The bank remains committed to serving the community and making a substantial difference to the nation through innovative products and services.

Oman Daily Observer