Times of Oman
Price in RO
24ct / gm
22ct / gm
Forex Rates vs R01
Back to Homepage
Bank Muscat wins award for fund transfer
Times News Service
September 29, 2013 , 9 : 14 am GST
SAVE THIS ARTICLE
The award acknowledges the bank’s exceptional quality in the delivery of commercial payments and transfers. Photo - Supplied
Bank Muscat, the flagship financial services provider in the Sultanate, has won an award from Wells Fargo bank for outstanding performance in dollar denominated fund transfer and commercial payments. Abdullah Al Hinai, DGM – Investment Banking & FIG, received the straight through processing (STP) Excellence Award for USD payments for the year 2012.
Abdullah Al Hinai said: "Winning this award is testimony to the bank's commitment to high standards of quality in meeting the stringent criteria for fund transfer. The award acknowledges the bank's exceptional quality in the delivery of commercial payments and transfers, facilitated by a state-of-the-art in-house payment architecture which helps the bank to consistently maintain high SWIFT standards for automated processing throughout the payment chain resulting in extremely high STP rates."
The bank's Central Operations electronic payments department, Treasury back office and Global Trade Services department are handling fund transfer operations while the technical and security issues are handled by the Systems & Procedures department. The Financial Institutions Group, acknowledged as one of the leading FI teams in the region, has established more than 500 correspondent banking relationships across the world.
The award recognised Bank Muscat's exceptional quality of SWIFT messages on dollar payment, maintaining an outstanding error-free rate for remittances in 2012. The award was based on evaluation of the quality and accuracy of SWIFT payment messages routed through Wells Fargo bank.
Rate this Article
Rates : 1, Average : 5
Post a Comment
Did you like this section? Leave a comment!
Your Name :
Your Email Address :
Your Comment :
Enter Image Text:
No Comments Posted
Latest in this section
Oman’s 2014 corporate earnings may grow 6.2 per cent
Oman's Haya Water to invest OMR100m annually to build sewage projects
Oman's share index falls marginally
Smart rise in GDP pushes India's Sensex, Nifty to new peak
Schleupen to deploy risk management systems at Oman Oil
TOP RATED ARTICLES
Rare parrot fish pair detected off Masirah Island in Oman
Cargo port shifts from Muscat base to Sohar Industrial Port
Researcher awarded Australian Laureate Fellowship
Kerala to prepare marine biodiversity map
English Premier League in focus: Liverpool 'gamble' Balotelli debuts against Tottenham
More in News
It's Different! Discovering pop legend Michael Jackson's popularity in rural India
High-end 'micro-flats' latest trend for Hong Kong home buyers
More than just a moustache - Adolf Hitler vs Charlie Chaplin
Urban gardens greening Berlin rooftops, airfield
Tips for writing a good article
More in Features
New conflicts have put the whole of MENA into turmoil
Modi’s mission to save the world must begin at home
Will the East Asian dream augur well for India now?
Alas! Iraq has already disintegrated
Winds of anarchy and chaos in Middle East
More in Columns
Copyright © 2012 Muscat Press & Publishing House SAOC. All rights reserved. Times of Oman is not responsible for the content of external internet sites.
For reprint rights contact:
TOO Online Editorial