Bank Muscat’s new Trade Portal, DigiTrade is well received by the corporate customers

by | Dec 27, 2022 | 0 comments

MUSCAT – Bank Muscat’s new Trade Portal DigiTrade, which was launched earlier this year, has been well received by the bank’s Corporate and Institutional customers for facilitating online initiation of trade transactions and real-time tracking. Introduced in line with the bank’s customer-centric vision “To serve you better, everyday” and commitment to digital transformation in line with Oman Vision 2040, Bank Muscat DigiTrade helps corporate customers log in from their office or home and perform a number of paperless transactions for different trade products and services.  Corporate customers have particularly benefited from the single sign-on process using their Online Banking credentials instead of having to visit a branch and submit requests in person during regular banking hours.

In particular, the new Trade Portal enables speedier, efficient and highly-secure trade-financing solutions for corporate customers who will receive auto notifications and email alerts upon the processing of transactions by the bank, and can generate electronic copies of all transaction advice and related SWIFT messages. Easy-to-use templates, an in-built search tool for easy retrieval of records, and a calendar menu option to schedule transactions are some of the other salient features of the Bank Muscat DigiTrade, which is easily accessed through the bank’s online banking platform.

Bank Muscat, which is recognised as one of the leading Trade Finance providers in the region provides tailor-made global trade products and services as part of its trade financing solutions, which are simple to use and come with a highly-competitive pricing structure. The bank issues Letters of Credit, all types of Guarantees, Standby LCs, handles documents under collection, offers document checking services under export Letters of Credit, confirms Letters of Credit and provides various trade financing solutions including forfaiting, receivable financing, trust receipt financing etc., and facilitates secured trade payments and receipts between buyers and sellers. With a strong network of over 500 correspondent banks across the globe and a highly-experienced pool of trade specialists, Bank Muscat offers a number of customised solutions to meet the varying demands of its customers.

The bank also offers Global Trade Services through its Corporate Banking branches at Ruwi, Al Nahda Towers (Ghala), Sohar and Salalah as well as at its Head Office in Seeb. Customers may contact the Global Trade Services Help Desk through email at [email protected] for assistance and queries.

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