Bank Muscat wins GTR Award for Best Trade Finance Bank in Oman

MUSCAT: Bank Muscat, the leading financial services provider in the Sultanate of Oman, has won the Best Trade Finance Bank in Oman Award from Global Trade Review (GTR) magazine for the fourth consecutive year.

With its strong global network of over 500 correspondent banks, Bank Muscat offers a number of customised solutions to meet the challenging demands of exporters, importers and local traders in the Oman and this year’s GTR award recognises the excellent services provided by the bank through its Global Trade Services division.

Speaking on the occasion, Fatma al Maskiry, Senior Assistant General Manager, Global Trade Services, Bank Muscat, said: “As one of the leading Trade Finance providers in the region, Bank Muscat has been facilitating trade and economic development both in Oman and the region. I would like to take this opportunity to thank Global Trade Review for recognising the bank’s efforts in supporting the corporate sector in Oman and in the region through a number of highly-customised solutions.”

The Global Trade Services team at Bank Muscat blends traditional financial solutions with tailor-made packages for operations, ensuring prompt payments, managing liquidity and minimising exchange rate risk.

Bank Muscat offers a number of customised solutions to meet the challenging demands of exporters, importers and local traders in Oman.

The bank issues Letters of Credit, all types of Guarantees, Standby LCs, handles documents under collection, offers document checking services under export Letters of Credit, and confirms Letters of Credit.

It also provides various trade financing solutions including forfeiting, receivables finance, trust receipt financing and facilitates secured trade payments and receipts between buyers and sellers.

In line with global trends and its customer-centric vision, the bank is also currently digitalising a number of its services to enhance customer convenience and accessibility.

As a prolific innovator in the financial sector, the bank regularly wins a number of international and local awards and accolades. Recently, Bank Muscat was ranked by Forbes Middle East as one of the Top 100 Listed Companies in the Middle East for the second consecutive year.

Earlier in 2021, the bank was rated as one of the Top 50 Banks in the region by Forbes Middle East and also as the Best Trade Finance Provider in Oman by Global Finance.