Muscat, February 24, 2013: Bank Sohar's Wholesale Banking Division and Retail Division are actively covering the Sohar market since inception of the Bank. With the growing clientele coverage, the Bank felt the need to organize a Corporate Seminar to disseminate knowledge on the value added products and services offered by the Bank.
The Seminar which was held in Crown Plaza Sohar was addressed by the Senior Officials of the Bank from Wholesale Banking, Treasury & Trade Finance. A full coverage on other product offerings like Retail Banking and Islamic Banking were also presented.
Highlighting the importance of growth planning discussions, R Narasimhan, DGM of Wholesale Banking for Bank Sohar noted, "Sohar is currently enjoying a steep growth curve with the shift of commercial operations from Port Sultan Qaboos to Port Sohar and also due to trade zone facilities thereby making that location an extremely important business centre for corporate entities. The Sohar industrial sector is now stimulating the growth of education, manufacturing, engineering, services, mining & hospitality sectors and recognizing the national importance of these projects, Bank Sohar has expanded its banking and finance facilities in the region considerably."
The industrial hub of Sohar is considered a strategically important part of the economy in Oman. Due to its proximity to Dubai, the Middle East's largest market, the opportunities for the development are considerable and Bank Sohar has set out long term plans to ensure its banking services complement the emerging business opportunities from that location.
The Bank's seminar highlighted on the value added products offered by the Bank in Trade Finance & Treasury, which can be customized through product specialists tailoring to the requirement of each corporate. The superior technology adopted by the Bank enables quick processing of the transactions at a centralized level of operations from Muscat. The IT connectivity enables the corporates to enjoy the banking services on '"online & real time basis" with the Retail Branches at various locations of the Bank helping the client for local support.
"Since 2007 Bank Sohar's objective in this region has been to grow a collaborative and strategic partnership with key industry players and ensure appropriate financial services are available to support the growth of Oman's second largest industrial hub," R Narasimhan said. This is evident by the tremendous growth achieved by the Bank in corporate business from this location.
The Seminar was very well attended by leading local corporates and they had interactive discussions with the Bank's senior officials and products specialists.
The Seminar was also addressed by Mr Mervyn Fernando, Senior AGM - Large Corporate and Mr Mustafa Mukhtar, AGM - Trade Finance.
© Press Release 2013
