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Bank Muscat inks cooperation pact with Shinhan Bank
- Oman: Monday, January 14 - 2013 at 04:19
Bank Muscat has signed a memorandum of understanding with Shinhan Bank, the first cooperation agreement between the South Korean lender and a GCC bank, Muscat Daily has reported. "South Korea has emerged as a major trading partner for Oman and the GCC states and we are confident the cooperation agreement between Bank Muscat and Shinhan Bank will provide a fillip to the already robust trade and investment flows between the two countries," said AbdulRazak Ali Issa, chief executive of Bank Muscat. "With branches in Saudi Arabia and Kuwait and an associate in Bahrain with its branch in Qatar, and a representative office in UAE, Bank Muscat is positioned to serve counterparty banks for their requirements in the GCC region," he added.
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