Manama, Bahrain, May 16, 2005:  BankMuscat International (BMI) received the first ever Straight Through Processing (STP) Award for achieving the highest Euro STP payment volumes in the Region. This award, recently constituted by ABN AMRO, was in recognition of the importance of STP in ensuring back office efficiency and was presented during the Euro Clearing Road Show held at the Ritz Carlton Bahrain Hotel & Spa

Speaking at the ceremony, the CEO of BMI, Musallam Al-Shukairi said: "This is indeed an absolute honor for us and proves that we have the best qualified team equipped with effective systems and procedures. Our focus has always been on ensuring that efficient steps are taken to enhance operational efficiencies and reduce costs. The acknowledgement by our peers reflects positively on all of our future endeavors as well. "

"BMI is committed to ensure the need for STP is addressed along with providing solutions for    e-business to its corporate and financial institution customers", Musallam added

BMI currently offers its customers a range of retail products and services including savings and current accounts, consumer lending, credit cards and certificates of deposit. Its flagship retail product, the Al Mazyona Savings Certificate, which it launched in the last quarter of 2003, has grown from strength to strength with a significant number of people deciding to repose their faith in the bank. In addition to Retail Banking, BMI offers Corporate Banking, Private Banking, Treasury, Islamic Financial Services and Global Trade Services with plans to develop many new products. The Bank has a region focused expansion plan.

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About BankMuscat International (BMI)
BMI, set up in January this year, is an independent Banking entity, with a vision to become a dynamic regional bank. BMI has been set up in association with some of the strongest and most respected financial institutions from across the GCC region including BankMuscat SAOG (Oman), Royal Court Affairs (Oman), Overseas Investment S.P.C (Bahrain)*, Istithmar (UAE) and Global Investment House (Kuwait).
 
*Overseas Investment S.P.C is a 100% wholly owned subsidiary of Premier Group, Bahrain

For further information, please contact:
Gordon Andrade
Corporate Communication
BMI
E-mail: gordon@bmi.com.bh
Direct Line: +973 17 218687;
Mobile: +973 39782225 Fax: +973 17226641

© Press Release 2005