BankMuscat, the nation’s premier bank, has recently signed a Memorandum of Understanding (MoU) with Oman Investment and Finance Company (OIFC) to facilitate auto-updation of customer accounts on payment of bills tthrough the creation of a direct system link between the two organizations
Speaking on the occasion AbdulRazak Ali Issa, chief executive, BankMuscat said,“As leading organizations in the service sector, both BankMuscat and OIFC are focused on ensuring a high degree of customer convenience. The current arrangement between the two organizations, we are sure, will significantly help customers in managing their utility bill payments and therefore result in customer delight.
“BankMuscat is committed to bringing to customers an ever-widening range of products and services that help create customer convenience and make banking an even more integral part of their daily lives.”
The direct system link between the two organizations is expected to ensure timely updation of bill payment information on OIFC’s system, thereby significantly reducing the waiting time for bill payment credits to reflect in one’s account. From the existing time of two or more working days, the credit will now take place in within two hours in the OIFC system. All utility bills currently issued through OIFC -- water, electricity and Omantel bills (land phone, GSM and Internet) -- would be covered through this service.
BankMuscat currently provides its customers with the option to pay their utility bills across the largest range of electronic channels in the country. This includes the Bank’s phone banking, ATM network, Internet banking and Kiosk banking channels. Its network of self-service terminals, otherwise known as EasyDeposit terminals, also provides this service to non-BankMuscat customers as well.
Confirming these developments, Dr. Mohamed Abdulaziz Kalmoor, Chief Executive Officer of Oman Investment & Finance Company (OIFC) said:
“We are pleased by our partnership with BankMuscat, and we believe this takes our constant efforts towards customer service enhancement to greater levels. We are keen to reach everyone, and what better way to achieve this than to utilize the electronic channels of BankMuscat coupled with our own 44 branches and linking them to our IT system, thereby enabling prompt service to our esteemed customers.
“This will complement our various customer service facilities such as the 16 hour Call Centre, the cell serving privileged customers and the branches which are to be opened shortly. We hope these initiatives and facilities will be welcomed and utilized by all our valued customers.”
In keeping with its overall strategy going ahead, BankMuscat is committed to trying to anticipate the current and emerging needs of the discerning customers in Oman, and the countries in which it operates, and introduce a range of superior products and services that enhance customer delight and make banking a far more convenient experience.
About BankMuscat:
With assets worth over US $ 4.8 billion, BankMuscat (SAOG) is the largest Bank in Oman today with a strong presence in Corporate Banking, Retail Banking, Investment Banking, Treasury, Private Banking and Asset Management. The Bank has a network of 90 branches in Oman and a representative office in Dubai (UAE). BankMuscat also has a strategic stake in Centurion Bank, a private sector bank in India and has recently set up BankMuscat International (BMI) an independent Banking entity that will be focused on becoming a truly GCC regional bank.
The international financial and banking community has lauded BankMuscat’s performance and pioneering efforts at setting new standards of excellence in the Banking industry in Oman and in the countries in which it operates across the region for several years now. BankMuscat holds the rare distinction of being voted the ‘Best Bank in Oman’ by Euromoney and Global Finance Inc., four times in a row and three times by The Banker, FT London. The Bank was also awarded the People Development Award at Oman Awards for Excellence in 2003 and 2004 .
