{{Short description|Financial services company of Oman}} {{more citations needed|date=May 2017}} {{Infobox company | name = Bank Muscat | logo = Bank_Muscat_logo.svg | type = Public | founder = | key_people = Sheikh Waleed Khamis Al Hashar, CEO<ref>{{cite web|url=https://www.bloomberg.com/research/stocks/private/people.asp?privcapId=9857350|title=Company Overview of bank muscat |accessdate=29 June 2019}}</ref> | industry = Finance and Insurance | products = Financial services | revenue = {{profit}} US$ 2.2 billion (2024)<ref name="F2000">{{cite web|url=https://www.forbes.com/companies/bank-muscat/|title=Bank Muscat on the Forbes Global 2000 List|work=forbes.com}}</ref> | net_income = {{profit}} US$ 499.5 million (2024)<ref name="F2000"/> | assets = {{profit}} US$ 36.4billion (2024)<ref name="F2000"/> | num_employees = 3,779<ref name="F2000"/> | foundation = {{Start date and age|1974}}<ref>{{Cite web |title=BankMuscat - About Us |url=http://bankmuscat.com/htm/aboutus/profile.shtml |url-status=dead |archive-url=https://web.archive.org/web/20020802055038/http://bankmuscat.com/htm/aboutus/profile.shtml |archive-date=2002-08-02 |access-date=2002-08-02 |website=BankMuscat}}</ref> | location_city = Muscat | location_country = Oman | homepage = {{url |https://www.bankmuscat.com/ }} }} '''Bank Muscat''' is a financial services provider in the Sultanate of Oman providing corporate banking, retail banking, investment banking, treasury, private banking and asset management. The bank, with assets worth US$ 31.9 billion in 2018, has the largest network in Oman exceeding 150 branches.<ref>{{cite web|url=https://www.gfmag.com/magazine/may-2019/best-banks-middle-east-2019-sunny-outlook|title=Global Finance Magazine - Best Banks In The Middle East 2019: Sunny Outlook|work=Global Finance Magazine|accessdate=29 June 2019}}</ref> As of 2022, the bank has more than 2 million customers, 174 branches, and more than 800 points of interaction,<ref>{{Cite web |date=2022-06-23 |title=It's a whole new ballgame: Financial institutions and their customers have changed the way we do banking |url=https://www.pennlive.com/news/2022/06/its-a-whole-new-ballgame-financial-institutions-and-their-customers-have-changed-the-way-we-do-banking.html |access-date=2025-03-26 |website=pennlive |language=en}}</ref> including automated teller machines (ATM), deposit machines (CDM), and full-function machines (FFM).<ref>{{Cite web|lang=en|url=https://timesofoman.com/article/123388-bank-muscat-wins-best-retail-bank-in-oman-award-at-mena-banking-excellence-awards-2022|title=Bank Muscat wins Best Retail Bank in Oman Award at MENA Banking Excellence Awards 2022|website=Times Of Oman|access-date=2024-03-31|archive-date=2022-11-20|archive-url=https://web.archive.org/web/20221120104517/https://timesofoman.com/article/123388-bank-muscat-wins-best-retail-bank-in-oman-award-at-mena-banking-excellence-awards-2022}}</ref>
== Operations == The international operations consist of a branch each in Riyadh, Saudi Arabia and Kuwait and representative offices in Dubai, UAE and Singapore.<ref>{{cite web |title=International Operations Group |url=https://www.bankmuscat.com/en/about/pages/intloperations.aspx |publisher=Bank Muscat |accessdate=29 June 2019}}</ref> The Bank has whole ownership of Muscat Capital, a brokerage and investment banking entity in Saudi Arabia,<ref>{{cite web|url=https://timesofoman.com/article/124593|title=Muscat Capital launches real estate fund|date=25 December 2017|work=Times of Oman|accessdate=29 June 2019}}</ref> and an 11.8% stake in Silkbank in Pakistan.<ref>{{cite web|url=https://tribune.com.pk/story/1006469/arif-habib-corp-acquires-28-stake-in-silkbank/|title=Arif Habib Corp acquires 28% stake in Silkbank|date=9 December 2015|work=The Express Tribune|accessdate=29 June 2019}}</ref>
== Recognition == Bank Muscat was voted the ‘Best Bank in Oman’ for seven years by The Banker,<ref>{{Cite web |title=Bank of the Year Awards - Oman |url=https://www.thebanker.com/content/850a7fb4-51fe-5ace-a8d3-25cc1e49ab96 |access-date=2025-03-26 |website=www.thebanker.com |language=en}}</ref> FT London<ref>{{Cite web|lang=en|url=https://www.omanobserver.om/article/88657/Business/bank-muscat-wins-global-benchmark-bank-of-the-year-award-by-banker|title=Bank Muskat wins global benchmark Bank of the Year award by Banker|website=Oman Observer|access-date=2024-03-31|archive-date=2024-03-31|archive-url=https://web.archive.org/web/20240331172004/https://www.omanobserver.om/article/88657/Business/bank-muscat-wins-global-benchmark-bank-of-the-year-award-by-banker}}</ref><ref>{{Cite web|lang=ar|url=https://albayanmagazine.com/%d8%aa%d8%aa%d9%88%d9%8a%d8%ac-%d8%a8%d9%86%d9%83-%d9%85%d8%b3%d9%82%d8%b7-%d8%a8%d8%ac%d8%a7%d8%a6%d8%b2%d8%a9-%d8%a7%d9%84%d8%aa%d9%85%d9%8a%d8%b2-%d9%81%d9%8a-%d8%aa%d9%82%d8%af%d9%8a%d9%85-%d8%a7/?lang=en|title=Bank Muscat honored with an award for excellence in service delivery|website=Albayan Magazine|access-date=2024-03-31|archive-date=2024-03-31|archive-url=https://web.archive.org/web/20240331172529/https://albayanmagazine.com/%D8%AA%D8%AA%D9%88%D9%8A%D8%AC-%D8%A8%D9%86%D9%83-%D9%85%D8%B3%D9%82%D8%B7-%D8%A8%D8%AC%D8%A7%D8%A6%D8%B2%D8%A9-%D8%A7%D9%84%D8%AA%D9%85%D9%8A%D8%B2-%D9%81%D9%8A-%D8%AA%D9%82%D8%AF%D9%8A%D9%85-%D8%A7/?lang=en}}</ref><ref>{{Cite web |title=Bank Muscat wins global banking benchmark award |url=https://timesofoman.com/article/73955-bank-muscat-wins-global-banking-benchmark-award |access-date=2025-03-26 |website=Times of Oman |language=en}}</ref> nine years in a row by Global Finance and Euromoney.<ref>{{Cite web |date=2022-08-15 |title=Bank Muscat wins Best Bank in Oman Award from Euromoney |url=https://www.omanobserver.om/article/1123677/business/banking/bank-muscat-wins-best-bank-in-oman-award-from-euromoney |access-date=2025-03-26 |website=Oman Observer |language=en}}</ref><ref>{{Cite web |last=Posts |first=Muscat Daily |date=2021-02-27 |title=Bank Muscat wins top award from Global Finance |url=https://www.muscatdaily.com/2021/02/27/bank-muscat-wins-top-award-from-global-finance/ |access-date=2025-03-26 |website=Muscat Daily |language=en}}</ref> Bank Muscat is the recipient of the Hewitt recognition as the Middle East's Best Employer 2009.<ref name=":0">{{Cite web |title=BankMuscat One of the Region's Best Employers |url=https://www.khaleejtimes.com/business/bankmuscat-one-of-the-regions-best-employers |access-date=2025-03-26 |website=Khaleej Times |language=en}}</ref> The Bank was declared an Investor in People (IiP) organisation in January 2007, becoming the first banking organisation in the MENA region to be awarded the global recognition.<ref name=":0" /> In 2004, Bank Muscat became the first bank in the Middle East to be completely ISO 9000:2000 certified.<ref>{{Cite web |date=2005-11-21 |title=BankMuscat to Open Branch in Riyadh |url=https://www.arabnews.com/node/276255 |access-date=2025-03-26 |website=Arab News |language=en}}</ref> In 2022, the bank was ranked among the top 30 banks in the region by Forbes Middle East.<ref>{{Cite web|lang=en|url=https://timesofoman.com/article/123388-bank-muscat-wins-best-retail-bank-in-oman-award-at-mena-banking-excellence-awards-2022|title=Bank Muscat wins Best Retail Bank in Oman Award at MENA Banking Excellence Awards 2022|website=Times of Oman|access-date=2024-03-31|archive-date=2022-11-20|archive-url=https://web.archive.org/web/20221120114159/https://timesofoman.com/article/123388-bank-muscat-wins-best-retail-bank-in-oman-award-at-mena-banking-excellence-awards-2022}}</ref>
== International issues == In 2013, the bank was hit by a $39 million fraud scheme using prepaid travel cards accessed from outside of Oman.<ref>{{cite web|url=https://www.theregister.co.uk/2013/03/01/bank_muscat_atm_mega_fraud/|title=Bank Muscat hit by $39m ATM cash-out heist|work=www.theregister.co.uk|accessdate=29 June 2019}}</ref> This led to an impairment charge impacting 10.5% of Bank Muscat's earnings for the period.<ref>{{cite web|url=https://gulfbusiness.com/omans-bank-muscat-hit-by-39m-prepaid-card-fraud/|title=Oman's Bank Muscat Hit By $39m Prepaid Card Fraud|date=26 February 2013|work=Gulf Business|accessdate=29 June 2019}}</ref>
In 2016, the United States Department of the Treasury secretly issued a license to Bank Muscat to convert $5.7 billion in Iranian overseas reserves from Omani rials into euros via United States dollars, something not normally permitted due to United States sanctions against Iran.<ref>{{cite news |url=https://apnews.com/27e8179cf10140dca7eb86b3488f01e2 |publisher=The Associated Press |first1=Josh |last1=Lederman |first2=Matthew |last2=Lee |date=June 6, 2018 |title=Secret Obama-era permit let Iran convert funds to dollars |quote=The Treasury Department license, issued in February 2016 and never disclosed, would have allowed Iran to convert $5.7 billion it held at Oman's Bank of Muscat from Omani rials into euros by exchanging them first into dollars.}}</ref>
==References== {{Reflist}}
==External links== *{{Official website|https://www.bankmuscat.com}} {{Portal|Banks}} {{Authority control}}
Category:1982 establishments in Oman Category:Banks established in 1982 Category:Banks of Oman Category:Companies based in Muscat, Oman Category:Companies in the MSM 30