BankMuscat contributes RO 3 million towards the rehabilitation of cyclone victims

The amount in question will be divided between the Ministry of Social Development (RO 2 million) and the Oman Charitable Organization (RO 1 million). The funds will be made available to these organizations over the next 12 months.

Speaking on the occasion, Sheikh AbdulMalik bin Abdullah Al Khalili, Chairman, BankMuscat said:

"Cyclone Gonu is without a doubt one of the worst natural calamities to have hit the Sultanate in living memory. Our heartfelt condolences to those affected by the disaster. As the nation's leading Omani institution, we feel it is our duty to stand by our brother's in this time of need. We truly appreciate the tireless efforts of our administration particularly, the Royal Oman Police, the Muscat Municipality, the Ministry of Defense and other key government departments in preparing us for this natural disaster and now for their efforts to restore normalcy to our lives, be it in terms of restoration of power, water or telecommunications services in the shortest span of time."

Explaining the rationale behind the choice of these two organizations and how the funds will be deployed, Sheikh AbdulMalik added:

"There are several organizations that are playing an extremely meaningful role in trying to support the people who have been affected. These include the Ministry of Social Development and the Oman Charitable Organization, which have been working literally around the clock to reach out to people nationwide. We are confident that they will ensure that the monies are deployed in the right manner and reach those who can benefit from it the most, across the length and breadth of our country."

Urging other socially responsible organizations to also step forward in this manner, he added:

"I appeal to other socially responsible organizations nationwide to also step forward and contribute towards the cause of rehabilitating the thousands of people who have been affected by this natural disaster. Thanks to the visionary leadership of His Majesty, Sultan Qaboos bin Said, Oman has over the past 37 years been transformed from a country blessed by nature alone to one that is fast being counted amongst the foremost economies across the GCC region.

"We, as flag bearers of the nation's private sector, must play our part in the nation rebuilding process, even as His Majesty's government works towards rebuilding all the infrastructure of our beautiful country. We are confident that working together, we can once more build the morale of our people, so that our nation comes through even stronger than before."

With assets 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 100 branches and 230 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.