MUSCAT – Bank Muscat has announced that it has obtained approval from the Central Bank of Oman (CBO) for its Organisational Structure, effective 1 January 2022.
A number of high-performing and capable Omani youth have been promoted to the Bank’s Senior Management Team. This will facilitate the realisation of the Bank’s strategy for the future, reinforce its leadership position, and empower Omani youth to hold positions of greater responsibility at the Bank. At present, over 95 percent of all Bank employees are Omani nationals.
Ahmed Faqir Al Balushi has been appointed as the Chief Banking Officer and Sheikha Yousuf Al Farsi as the Chief Operating Officer. This reiterates the Bank’s strategic plan to achieve more progress and growth after completing 39 years in the service of the nation. Bank Muscat’s announcement reinforces the Bank’s leadership position and translates its customer-centric vision as a key pillar of its future growth.
Realisation of visionary directives
On this important occasion, Sheikh Khalid Bin Mustahail Al Mashani, Chairman of the Board of Directors of Bank Muscat, said: “The Bank’s Organisational Structure is a realisation of the visionary directives of His Majesty Sultan Haitham Bin Tarik to provide talented Omani nationals appropriate opportunities to occupy leadership positions across all sectors and industries. A number of capable Omani youth have been promoted to the Management Team in recognition of their experience, competence and diligence to reinforce the Bank’s leadership position in the Sultanate, and to achieve strategic growth. The Bank will thus be able to move swiftly to meet customer expectations and global banking trends with a number of innovative, value-added products and services in the future.”
Sheikh Khalid Al Mashani added: “Bank Muscat is one of the great successes of the Blessed Renaissance of the Sultanate and has been playing a major role in the growth and development of Oman. We are confident and will continue our preparations for the next stage of our growth, and to face any challenges in the future. I extend my sincere appreciation and gratitude to the Bank’s leadership and all employees for continuously endeavoring to further enhance the Bank’s role and leadership in the financial sector as well as its corporate social responsibility. I would like to take this opportunity to wish everyone all success for the next stage of our development.”
Fine balance of experience and youth
On behalf of the members of the Management Team, Sami Arfah Bait Rashid, Assistant General Manager – Meethaq Personal Banking, expressed his gratitude to the Bank’s Board of Directors and the Executive Management for the confidence in Omani youth and for giving them an opportunity to prove their capabilities across different fields. He added that Omani youth look forward to driving the next stage in the Bank’s journey and achieving more success. He pointed out how Bank Muscat as the leading financial services provider in Oman gives top priority to the development and training of its Omani cadres. The Bank provides an ideal work environment that encourages innovation, creativity and progress, while providing the best services and facilities in the country.
Wafa Ibrahim Al Ajmi, Assistant General Manager – Transaction & Government Banking, expressed her happiness and sincere appreciation on her own behalf as well as those of colleagues who have been promoted to the Management Team. She stressed that the Bank provides excellent opportunities for Omani nationals to prove their capabilities. She added that the Bank also places great emphasis on gender diversity and promoting the role of Omani women. Today, over 48 per cent of Bank Muscat employees including those in senior management, are women. She added that she hoped to contribute her very best to success of the bank in the future.