Banking In Oman: Bank Muskat
College of Banking and Financial Studies ESP Project (October 2012) Banking in Oman Bank Muscat Level -5A Group members: 1- Amani Mohamad ALAbri
Supervised by: Ms.Sunita Vyasan
Contents
S.No. | Topics | P.No. | 1. | Introduction | 3 | 2. | Bank Muscat | 4 | 3. | Board of Directors | 5 | 4. | Consumer Banking, Accounts and Deposit | 7 | 5. | Loans and mortgages, insurance | 8 | 6. | Card services | 9 | 7. | Banking Channels | 10 | 8. | Examples of cards in Bank Muscat | 11 | 9. | Expat services, Payment Facilities | 12 | 10. | Financial Review 2011 | 13 | 11. | Quality Policy | 19 | 12. | Balance sheet | 20 | 13. | Interview | 22 | 14. | Conclusion | 24 | 15. | Reference List | 25 | 16. | Forms | 26 |
INTRODUCTION The Omani banking sector mainly the product of a November 1974 banking rule set by the Central Bank of Oman (CBO) enforced by April 1974 .The law also helped the entry of foreign – owned banks and to allow growth in the number of local banks in the Sultanate . As of September 1992 there were twenty – one commercial banks in comparison with three registered banks in 1972. In addition there were three expert development banks: the Oman Development Bank (1977) the Oman Housing Bank (1977) and the Oman Bank for Agriculture and Fisheries (1981). However the Omani ba-nk market is the smallest in the GCC .Of the twenty –one commercial banks eleven are foreign owned and dealing mainly on financing trade. Ten are local banks working a very active market. Because of competition the government suggested to merges to strengthen them. The presumption is that five or six local banks will appear as the core with those facing financial problem controlling transaction or merging with more profitable institution. A similar method may apply to foreign banks of which only five or six would continue to perform important business.
Supervised by: Ms.Sunita Vyasan
Contents
S.No. | Topics | P.No. | 1. | Introduction | 3 | 2. | Bank Muscat | 4 | 3. | Board of Directors | 5 | 4. | Consumer Banking, Accounts and Deposit | 7 | 5. | Loans and mortgages, insurance | 8 | 6. | Card services | 9 | 7. | Banking Channels | 10 | 8. | Examples of cards in Bank Muscat | 11 | 9. | Expat services, Payment Facilities | 12 | 10. | Financial Review 2011 | 13 | 11. | Quality Policy | 19 | 12. | Balance sheet | 20 | 13. | Interview | 22 | 14. | Conclusion | 24 | 15. | Reference List | 25 | 16. | Forms | 26 |
INTRODUCTION The Omani banking sector mainly the product of a November 1974 banking rule set by the Central Bank of Oman (CBO) enforced by April 1974 .The law also helped the entry of foreign – owned banks and to allow growth in the number of local banks in the Sultanate . As of September 1992 there were twenty – one commercial banks in comparison with three registered banks in 1972. In addition there were three expert development banks: the Oman Development Bank (1977) the Oman Housing Bank (1977) and the Oman Bank for Agriculture and Fisheries (1981). However the Omani ba-nk market is the smallest in the GCC .Of the twenty –one commercial banks eleven are foreign owned and dealing mainly on financing trade. Ten are local banks working a very active market. Because of competition the government suggested to merges to strengthen them. The presumption is that five or six local banks will appear as the core with those facing financial problem controlling transaction or merging with more profitable institution. A similar method may apply to foreign banks of which only five or six would continue to perform important business.