12 June 2011
MUSCAT -- Marking a pioneering initiative, BankMuscat has generated a buzz, becoming the first corporate in Oman to tap social media to attract tech-savvy customers to the bank's innovative products and services. Making an online splash, BankMuscat has effectively unleashed social media to catalyse positive changes towards online trading.

Raising awareness and attracting customers to BankMuscat online trading, the campaign is building up on all leading social media channels, including Twitter, Facebook, Linkedin, Wikipedia, YouTube, Flickr and tech blog discussion forums.

Abdullah al Hinai, Assistant General Manager, Investment Banking, BankMuscat said: "At a time when the residual impact of the global financial crisis is felt on stock market performance, the BankMuscat move reflects a bold step in building investor confidence, thereby contributing to market momentum. The social media campaign promoting online trading coincides an opportune moment when Omani shares with strong fundamentals and attractive valuations are considered favourable for long-term acquisition. Historically, MSM has consistently outperformed the regional markets."

Al Hinai added: "Over the years, BankMuscat has taken several initiatives to promote Internet banking and the new initiative to tap the potential of social media is a natural progression of the bank's strategy to benefit from the growing popularity of Internet in the Sultanate. BankMuscat caters to the largest banking family in Oman, exceeding 1 million satisfied customers, most of whom are using the technology-driven banking facilities."

Al Hinai noted: "The new initiative will generate greater awareness about BankMuscatDirect and its operations, positioning the bank as an authority in online trading. The campaign is aimed at building awareness about the simplicity, security and ease of usage of BankMuscatDirect, generating new registrations and engaging new and existing customers in an ongoing relationship by educating them on the advantages of BankMuscat online trading."

Al Hinai said: "The bank has chalked out plans to sustain the awareness-building exercise and attract customers to the online trading channel. The social media campaign will attract attention and encourage customers to share their experience and information on social networks. The message of BankMuscat online trading will spread from user to user and resonate because it is coming from a trusted source, as opposed to the brand or company itself."

"BankMuscat is the first corporate in Oman to unleash the potential of social media to interact with existing and potential customers and make them feel that their opinion and suggestions on the bank products and services are not only heard but highly valued as well," Al Hinai added.

BankMuscat has proven expertise in stock broking services.

The state-of-the-art BankMuscatDirect online trading system facilitates trading of shares on Muscat Securities Market (MSM). BankMuscatDirect, accessible on https://www.bankmuscatdirect.com or through www.bankmuscat.com incorporates the latest technological advances to guarantee flawless security and unmatched convenience in online share trading.

Besides exceptional ease of usage, the key differentiator of the Internet-based trading facility is that it offers seamless trading through a linked two-in-one brokerage and BankMuscat account.

During official trading hours, the online system allows clients to trade in MSM shares from anywhere in the world. Subject to availability of funds in their account, registered clients can participate in live share trading and execute buy or sell options without any complications.

All trading reports will be instantly posted on individual accounts.

Notably, the online trading facility is manned by BankMuscat Brokerage department, which has earned a strong reputation for offering sound brokerage advice to domestic and foreign clients.

With expertise in equity research and a wide network of investors, it is the broker of first choice among foreign institutions investing in Oman.

The division, which services a geographically diverse base of emerging market institutional investors, has consistently won accolades for promoting trading on MSM.

© Oman Daily Observer 2011