Essays on Risk Management in the Oman Banking Industry - Bank Muscat Case Study

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The paper "Risk Management in the Oman Banking Industry - Bank Muscat" is a good example of a management case study.   Bank Muscat is the major provider of financial services within the Sultanate of Oman. Bank Muscat has assets worth over $15 billion and has the largest network within Oman with over 130 bank branches, 386 ATMs, 131 CDMs in addition to 4500 Pos terminals. The worldwide operations include a branch within Riyadh, Saudi Arabia and Kuwait. In addition, the bank has an envoy office within Dubai, UAE. At present, Bank Muscat owns 49 percent of BMI Bank, which is an independent bank within Bahrain.

Bank Muscat additionally owns a 43 percent within the Mangal Keshav Group, which is one of the oldest and most stable securities houses within the Indian equities market. The bank also has 97 percent within Muscat Capital LLC which is a brokerage and investment banking firm within Saudi Arabia. Bank Muscat has been voted the “ Best Bank within Oman” for seven years consecutively. In addition, in 2009, the bank received Hewitt recognition as the Best Employer in the Middle East.

Within 2004, the bank became the first one within the Middle East to get a full ISO 9000:2000, certification (Oxford Business Group 2010). The major customers of Bank Muscat consist of domestic and international organizations involved within undertakings across all economic sectors like contracting, oil and telecommunication. The bank has invested in state-of-the-art technology in order to offer a variety of value-added personal banking products and services to clients. At present Bank Muscat provides an all-inclusive suite of outstanding e-banking channels, counting Online Banking, 24/7 Call Centre, and the leading system of ATMs and CDMs within the Sultanate.

The bank also plays an important function in developing Investment Banking and Treasury within Oman. Bank Muscat has an investment banking department that offers an all-inclusive set of financial services including, corporate finance, product structuring, brokerage and research as well as a collection of treasury products. On the other hand, the department of asset management provides portfolio management, custodial in addition to accounting services. The department also carries out structuring, marketing and management of new funds within different asset categories.

Furthermore, Bank Muscat has a private banking department which has a renowned record within banking and wealth management. It is involved in maximizing investment and helping in structuring funds to meet the customers’ expectations (Oxford Business Group 2008). Vision statement "Over one million satisfied customers by 2010 through continuous enhancement of stakeholder value". Quality policy Bank Muscat’ s quality policy is to attain and maintain repute for quality within national and also global markets by providing products and services that go beyond the needs of its clients. The bank strives to continue being the first choice bank within all its products and services. Goals of Bank Muscat To establish and maintain a quality management system within the bank, basing on global quality standards To constantly review its products and services, worker’ s feedback and its clients to make sure that there is constant progress To provide its customers will high-quality service, innovate products as well as value-added banking and at the same time develop a mutually valuable relationship with its clients To demonstrate vision, professionalism transparency and integrity within its business undertakings To achieve disciplined development and practical profitability whereas operating on a rational financial foundation To create value for its shareholders To encourage, motivate and develop its human resources which is one of its most important asset as well as the foundation of the bank. To work towards the effective implementation of government goals pertinent to Bank Muscat To strive towards and maintain the best position within the banking industry in Oman

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