BankMuscat receives Trade Finance Award at the inaugural Lloyd's List Middle East and Indian Subcontinent Awards

Over 400 industry leaders from across the Middle East and the Subcontinent attended the event. In addition to the Trade Finance Award, awards were also presented to 14 other companies, across diverse categories, for their contribution to the maritime industry. Sultan Ahmed Bin Suleiman, Chairman of the Ports and Free Zone Authority, and Executive Chairman of Dubai Ports, Customs and Free Zone Corporation was the guest of honour.

Thanking clients on the occasion, AbdulRazzak Ali Issa, chief executive of BankMuscat (SAOG), said:

"Trade and commerce are the lifeblood of any economy. As the region continues to integrate with the global economy, trade finance, I am firmly of the belief will continue to assume increasing importance. We are committed to providing our clients with the finest of trade finance solutions and services in Oman and across the countries in which we operate. To this end, we are grateful to our customers for their continued patronage and confidence in the bank."

BankMuscat is amongst the forerunners in Trade Finance services across the region. Supported by state-of-art e-enabled trade products, a large correspondent banking network and a highly experienced pool of trade specialists, its spread of services include opening Letters of Credit, Guarantees and standby LC's, Import Finance, Export Finance and Documentary Collections. The Bank also provides importers and exporters with insights on key overseas market. In addition, BankMuscat eTrade is the first online solution in the GCC region that allows customers to use the Bank's trade finance services. The Bank, in time, plans to add modules to the existing modules of eTrade so as to provide customers increased levels of straight through processing (STP).

Lloyd's List is the market leading information source, used daily by decision makers throughout the international maritime industry as a source of strategic business information. Lloyd's List also provides leading information to professionals in the field of trade, finance and law.