Muscat - Bank Sohar has won the Tatweej Academy's 'Golden Order of Merit' for its prudent management and support for tourism projects in the Arab world. Bank Sohar is the only organisation from Oman and the only bank in the Middle East to have won this award.
According to a press release, Bank Sohar chief executive Dr Mohamed Abdulaziz Kalmoor received the award at a ceremony held on Saturday at the Burj al Arab Hotel, Dubai, in the presence of Dr Taleb al Rifai, secretary-general of the World Tourism Organization (UNWTO), and representatives from prominent institutions in the region and dignitaries. Also present at the event representing the bank were Abdulali al Lawati, senior AGM, corporate support, and Mazin Mahmood al Raisi, AGM, head marketing and publicity.
Commenting on the award, Dr Kalmoor said, "This is a great honour not only for me but more importantly for Bank Sohar which has been a model of banking excellence and innovation in Oman. Through this recognition we hope to influence more people and organisations in the country to embrace excellence as an important element and requisite goal in everything they plan and do."
The bank was commended for its active support to the tourism and hospitality sector over the past six years. Chief amongst these is the bank's year-on-year support of the Muscat Festival and Salalah Khareef festival and the support the bank provides to key hospitality-related events in the country such as the renowned Oman Today Restaurant Awards.
Bank Sohar's funding of projects in the sector takes up a good share of its total credit portfolio. The bank was also recognised for its performance and prudent management strategies, and at the same time adhering to international management standards, providing world-class services and actively driving organisational growth, the press release added.
"We are delighted to receive this recognition, which is further acknowledgement of Bank Sohar's commitment towards the economy and stands as a testament to our continued support towards the hospitality and tourism sector in Oman. We, at Bank Sohar, consider social responsibility towards our economy as an essential part of our vision and value system, and therefore, winning this award motivates us to continue work on the implementation of such strategies," said Dr Kalmoor.
© Muscat Daily 2013
