Bank Muscat wins ‘Best Foreign Exchange Provider in Oman’ award

06/08/2017 09:14 AST

Bank Muscat has won the Best Foreign Exchange Provider in Oman award by Global Finance. The award criteria included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies, including online foreign exchange systems.

In a press release, Abdullah al Hinai, general manager – wholesale banking at Bank Muscat, said, “In recognition of service excellence, Bank Muscat is delighted to win the Best Foreign Exchange Provider in Oman award by Global Finance. The Treasury & Capital Markets (T&CM) division maintains leadership position in Oman as Bank Muscat is the only bank in the country to offer a full suite of treasury products and services on 24/7 basis. The bank is focused on offering niche service to sustain a competitive edge for clients.”

The bank’s innovative treasury products and services include hedging for foreign exchange requirements, managing interest rate risks, eliminating commodity price risks from businesses and offering fixed income investment opportunities across the region and globe.

The service encompasses East Asian time as well as early New York time zones spanning all international and GCC working days.

The T&CM division facilitated Oman’s first oil hedging deal in 2016 to create value for the country.

Bank Muscat is a consistent winner of the Best Foreign Exchange Provider in Oman award as well as awards by all major international banks for outstanding performance in error-free remittance and fund transfer.

The bank’s performance has been consistently lauded by the international financial and banking community for several years.

Muscat Daily