Quality Management in Bank Muscat
Quality Management in Bank Muscat
“’Quality is the degree of excellence, which a thing possesses”. Rowland-Jones & O’Brien (2005, p201)
1.0 Introduction
In this assignment I am concerned about maximising the level of quality in Bank Muscat and the way of keeping the promise of meeting the standard that are reached and gave to customers and the people with whom company is dealing. It is easy to reach a specific standard but it is difficult to keep to that level especially with the different competitions that are faced from different factors such as other commercial banks in Oman and the International Standard of Organization (ISO). 1.1 An overview of BankMuscat(Sample Organisation)
BankMuscat assets are worth over USD 8.5 billion, BankMuscat (SAOG) is the largest bank in Oman today with a strong presence in Corporate Banking, Consumer Banking, Investment Banking, Treasury, Private Banking, Project Finance and Asset Management. The Bank has a network of over 101 branches and 239 ATMs in Oman and a representative office in Dubai (UAE). BankMuscat also has a strategic stake in Centurion Bank of Punjab, one of the largest private sector bank in India, and has a 49% stake in BankMuscat International (BMI), an independent banking entity in Bahrain that is focused on becoming a truly GCC regional bank. The Bank has also recently opened its operations in the Kingdom of Saudi Arabia.
BankMuscat holds the rare distinction of being voted the ‘Best Bank in Oman’ five times in a row by The Banker, FT London, six times in a row by Euromoney and seven times by Global Finance Inc. The Bank was awarded the People Development Award at Oman Awards for Excellence, in 2003, 2004 and 2005. The Bank also won the prestigious Gulf Excellence Award 2005 for Oman. BusinessToday named BankMuscat as the Number One Bank in the Sultanate of Oman for 2006, for the fourth time. In 2004, the Bank achieved the rare distinction of becoming the first bank in the Middle East to be
“’Quality is the degree of excellence, which a thing possesses”. Rowland-Jones & O’Brien (2005, p201)
1.0 Introduction
In this assignment I am concerned about maximising the level of quality in Bank Muscat and the way of keeping the promise of meeting the standard that are reached and gave to customers and the people with whom company is dealing. It is easy to reach a specific standard but it is difficult to keep to that level especially with the different competitions that are faced from different factors such as other commercial banks in Oman and the International Standard of Organization (ISO). 1.1 An overview of BankMuscat(Sample Organisation)
BankMuscat assets are worth over USD 8.5 billion, BankMuscat (SAOG) is the largest bank in Oman today with a strong presence in Corporate Banking, Consumer Banking, Investment Banking, Treasury, Private Banking, Project Finance and Asset Management. The Bank has a network of over 101 branches and 239 ATMs in Oman and a representative office in Dubai (UAE). BankMuscat also has a strategic stake in Centurion Bank of Punjab, one of the largest private sector bank in India, and has a 49% stake in BankMuscat International (BMI), an independent banking entity in Bahrain that is focused on becoming a truly GCC regional bank. The Bank has also recently opened its operations in the Kingdom of Saudi Arabia.
BankMuscat holds the rare distinction of being voted the ‘Best Bank in Oman’ five times in a row by The Banker, FT London, six times in a row by Euromoney and seven times by Global Finance Inc. The Bank was awarded the People Development Award at Oman Awards for Excellence, in 2003, 2004 and 2005. The Bank also won the prestigious Gulf Excellence Award 2005 for Oman. BusinessToday named BankMuscat as the Number One Bank in the Sultanate of Oman for 2006, for the fourth time. In 2004, the Bank achieved the rare distinction of becoming the first bank in the Middle East to be
References: Rowland-Jones & O’Brien (2005, p217), Slack et al (2004, p71 - BankMuscat Checklist Quality System (ISO Certification), 2002 - http://www.improve.org/tqm.html-TQM And Organizational Change And Development By Thomas Packard, D.S.W.