In further recognition of its excellence and pioneering of nationwide business initiatives, BankDhofar has been awarded the “OER Top 20 Oman’s Largest Corporates” at the annual ‘OER Finance Summit & Top 20 Awards’ that was organised by United Media Services (UMS).
Total assets of conventional commercial banks increased by 14.7 per cent to OMR27.9 billion in August, compared to OMR24.3 billion a year ago, said the Central Bank of Oman (CBO). Of the total assets, credit disbursement accounted for 46.6 per cent and increased by 10.6 per cent as at the end of August 2015 to OMR18 billion.
Remittances to India are projected to increase by 2.5 per cent this year, the World Bank has said in its latest report, even as weak economies in Europe, especially Russia, are slowing the growth of remittance flows.
Bank Muscat, the flagship financial services provider in the Sultanate, in step with its ‘Let’s Do More’ vision and commitment to partnership in women empowerment initiatives, celebrated the Omani Women’s Day with a series of activities.
Bank Muscat, the flagship financial institution in the Sultanate, posted a net profit of RO 136.2 million for the nine months ended 30 September 2015 compared to RO 126.7 million reported during the same period in 2014, an increase of 7.5 per cent.
Bank Muscat, the flagship financial services provider in the Sultanate, has won the Best Bank in Middle East and Africa for Liquidity Risk Management award by the Asian Banker. The bank is the first in the region to win this prestigious award from the Asian Banker.
Oman will open subscriptions on Thursday for its first sovereign issue of Islamic bonds, taking a major step to develop its Islamic finance industry and giving the government a fresh channel to raise money.
NCR Corporation, (NYSE: NCR), the global leader in consumer transaction technologies, announced that Oman Arab Bank – one of Oman’s leading banks, has selected NCR APTRATM Activatesoftware to deliver next generation omni-channel banking experience.
The issuance of Oman's first sovereign Sukuk will not only provide Islamic banks and takaful companies in the country with an investment avenue but also create a benchmark for the nation's potential borrowers to access it, says Hussain Ghaleb Al Yafai, Head, of Corporate and Institutional Clients and Head of Financial Markets, Standard Chartered Bank Oman. Muhammed Nafie reports.