BankMuscat (SAOG), the nation’s premier bank, organized an Investors’ seminar recently, in keeping with its commitment to empower investors from across the country. The seminar was organized by the Bank’s Brokerage department and was attended by high net worth investors, analysts, portfolio managers and representatives from leading pension funds across the country.
Speaking on the occasion, AbdulRazak Ali Issa, BankMuscat chief executive said:
“As the regional markets continue to outperform expectations, more and more people across the region today are actively looking at the equity markets as an exciting investment opportunity. This is true to Oman as well, as the MSM index has continued to grow and provide handsome returns to investors.
However, as all of us are aware, there is always a need for caution when investing on the bourses. As the nation’s leading Bank, and the leading broking house in the country, we have always believed, it is our duty to try and promote this transparency between organizations and the investor community in the Sultanate. Seminars, such as this, we believe, are a means to ensure higher levels of transparency and provide investors with the information they require.”
Organized at the Oman Sheraton Hotel, the proceedings saw Al Anwar Ceramics, Al Anwar Holdings (SAOG), Al Jazeera Services (SAOG) and Renaissance Services (SAOG) making detailed presentations on their current market position and strategies for the future. All four organizations, it may be recalled, are much sought after by equity investors in the Sultanate today.
Speaking on the current investor sentiment in the Sultanate, Mr AbdulRazak added:
“The strength of investor sentiment in the country today is borne out in all the recent IPOs on the MSM having been substantially oversubscribed. With the country now preparing for the largest IPO offering in its stock-market history, this bullish sentiment is only expected to become stronger in the days ahead.”
The BankMuscat Brokerage department which organized the meet, it may be recalled, was recently declared the ‘leading brokerage house in the Sultanate for 2004’ by the Muscat Securities Market. The department provides value-added stock broking services to foreign and domestic institutions, corporate bodies, high net worth individuals and retail clients.
Formed in December 2001 after the Bank’s takeover of Al Ahlia Securities Co., the BankMuscat Brokerage department is supported by an outstanding research team that regularly publishes research reports on stocks listed on the MSM. The Bank’s research reports are well sought after by clients both in Oman and across the GCC.
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.
