Bank Muscat honours employees for innovation ideas to support growth

11/01/2017 08:14 AST

Bank Muscat, the flagship financial services provider in the Sultanate, in line with its ‘Let’s Do More’ vision and commitment to leadership in employee engagement, honoured winners of 2016 Ibdaa competition, a unique initiative for employees to articulate innovation ideas to make a difference in the strategic pursuits of the bank. AbdulRazak Ali Issa, Chief Executive, in the presence of Management Team members, presented the Ibdaa prizes to winners drawn from across the bank’s entire network in Oman and abroad.

Launched in 2014, the Ibdaa competition highlights the value of innovation at Bank Muscat, aimed at encouraging and rewarding dedication and innovative solutions by employees to enable the bank to enhance operations and improve service excellence.

AbdulRazak Ali Issa said: “Bank Muscat is proud to honour its competent people reckoned the key strength of the leading bank in Oman with a track record of innovation in the market place. To step up the value of innovation in the bank, the Ibdaa initiative offers opportunities for all employees to take ownership and share innovation ideas on taking the bank forward on its growth trajectory. Bank Muscat is focused on equipping employees to make vital contributions to the bank’s growth and success. The bank plays a prominent role in the development of Omani talent and is committed to investing in improving their skills and expertise.”

The Ibdaa (Innovation) initiative was launched as part of the bank’s transformational growth focusing on driving a high-performance and value-based culture enhancing employee engagement. The Ibdaa platform allows employees to give free rein to their skills and knowledge to develop innovation ideas and solutions to enhance business processes and improve the banking experience.

The Ibdaa competition is open to all employees to come up with innovation ideas to resolve issues and improve services. The ideas can address a range of topics with the underlying objective of reinforcing the bank’s leadership in offering innovative financial solutions. Innovation ideas submitted by employees are shortlisted. Employees whose ideas are shortlisted are invited to present and discuss their ideas before the Ibdaa committee to determine the final ranking.

Bank Muscat accords priority for the development of human resources, providing educational and training opportunities to employees. The bank earmarks substantial allocation for training and development of human resources in all functions and responsibilities assigned to them. The training and development programmes are carried out through specialised educational courses conducted by accredited training centres or through academic links with colleges, universities and leading training institutes at the regional and global levels.

The dynamic ‘Let’s Do More’ vision and a set of benchmark values form the basis of a rewarding work culture in Bank Muscat.

Oman Daily Observer