Muscat: Bank Muscat, the leading financial services provider in the Sultanate of Oman, was awarded the Best Retail Bank in Oman Award at the MENA Banking Excellence Awards 2022 held in Dubai earlier this year. Organised by MEED in partnership with Retail Banker International and Private Banker International, the inaugural MENA Banking Excellence Awards sought to recognise institutions in the Middle East and North Africa region which is considered to be one of the fastest growing banking and financial services markets in the world. Bank Muscat was recognised for its customer-centric vision, innovative offerings backed by state-of-the-art technology and commitment to constantly enhance customer experience.
Speaking on the occasion, Abdulnasir Al Raisi, General Manager – Personal Banking, Bank Muscat, said: “We would like to take this opportunity to thank MEED as well as its partners Retail Banker International and the Private Banker for recognising the bank as the Best Retail Bank in Oman. Over the last four decades, Bank Muscat has carved a name for itself for the largest branch and ATM-CDM-FFM network, its cutting-edge omnichannel Mobile and Internet banking, its constant stream of innovative products and services and total commitment to customer-centricity, all of which are unmatched in Oman. Going ahead, the bank will aim to continue its market-leading position in the Sultanate’s financial services sector by further enhancing Customer Experience, Digital Transformation and Public-Private Partnership in line with the goals of Oman Vision 2040.”
Bank Muscat, which is celebrating its 40th Anniversary this year has made a name for itself with a large number of firsts in the banking sector over the past 4 decades. Today, the bank leads the financial services sector in the Sultanate with 174 branches and more than 800 touchpoints including Automatic Teller Machines (ATMs), Cash Deposit Machines (CDMs) and Fully Functional Machines (FFM) installed across the country. It is the first choice for over 2 million customers in Oman and has been playing an important role in enhancing financial inclusion in Oman with different innovative products for its customers.
Bank Muscat’s continuously upgraded omnichannel Internet and mobile banking offer customers a fast and secure banking experience, and today, over 1.3 million retail banking customers use various features like real-time bill payments for utilities in Oman, fund transfers within the bank and in Oman, fund transfers across the world via the SWIFT network amongst a number of other services and benefits. There has also been a rapid uptake in contactless payment through its various debit, credit and prepaid cards as well as contactless wearables.
The bank is working towards upgrading its phygital network (physical / digital) by replacing more than 150 CDMs and FFMs during the 1st quarter of 2023. During the year as well, the bank is planning to add more than 50 new ATMs/CDMs/FFMs in various locations across Oman. The bank has also started rolling out Multi-Function Kiosk, which enables customers to instantly issue and activate new or replaced debit cards around the clock.
Meanwhile, Premier Banking clientele have the advantage of being able to benefit from some of the most exclusive and differentiated services available in the Sultanate through Bank Muscat Private banking, Asalah Priority banking and Al Jawhar Privilege banking. On the occasion of its 40th anniversary, the bank has also recently launched a number of attractive offers for its customers including highly discounted offers on Baituna, Sayyarati and Personal Finance loans.
Bank Muscat consistently wins a number of international and local awards and accolades in recognition of its prominent leadership position in Oman. In 2022, Bank Muscat was ranked by Forbes Middle East as one of the Top 30 Banks as well as one of the Top 100 Listed Companies in the region.
