Bank Muscat launches new business portal for businesses

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Muscat: In line with its vision “To serve you better, every day” and its commitment to digitization for improved banking services and solutions, Bank Muscat, the Sultanate’s leading financial services provider, has launched the Bank Muscat for online trade initiation. transactions such as issuance/amendment of letters of credit, guarantees and trade finance.

The portal is an electronic channel that also helps clients to access required information/reports online. Instead of customers visiting branches and submitting their applications in person, applications can now be sent to online banking, improving convenience and accessibility for customers. Customers can access the new portal through the bank’s online banking platform.

The digital platform is easy to navigate and allows business banking customers to connect from anywhere, anytime. It enables paperless transaction processing for a range of commercial products and real-time transaction tracking. Customers will also benefit from single sign-on using their online banking credentials and will receive automatic email notifications/alerts as transactions are processed by the bank and will be able to generate electronic copies of all related transaction tips/quick messages.

Easy-to-use templates, an integrated search tool for easy retrieval of records, and a calendar menu option to schedule transactions are some of the other main features of the Bank Muscat business portal. Enterprise customers are reassured by the portal’s world-class security.

Speaking about the new trade portal, Fatma Khalifa Al Maskiry, Senior Deputy Managing Director – Global Trade Services, Bank Muscat, said, “Global Trade Services plays an important role in facilitating trade and economic development across the world. As one of the leading trade finance providers in the region, Bank Muscat has continuously digitized its services and has now launched this new portal which will enable faster, efficient and highly secure trade finance solutions for our corporate clients. .

Bank Muscat’s Global Trade Services, through its tailored products and services, offers a range of easy-to-use trade finance solutions with a competitive pricing structure. With its strong global network of over 500 correspondent banks and its pool of highly experienced trade specialists, Bank Muscat offers a number of customized solutions to meet the demanding demands of local exporters, importers and traders in the Sultanate.

The bank issues letters of credit, all types of guarantees, reserve LCs, manages documents in the process of collection, offers document verification services within the framework of export letters of credit, confirms letters of credit and provides various commercial financing solutions including Forfeiting, Receivables Financing, Fiduciary Receipt Financing, etc. ., and facilitates secure trade payments and collections between buyers and sellers.

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