Friday 15 / November / 2024
MUSCAT: Bank Muscat’s digital services have attained a noticeable success and a qualitative leap in the type of corporate banking facilities offered. Digital services are specially designed for easy access and convenience so that customers can complete their banking transactions at any time and from anywhere. The bank’s trade services digital portal (DigiTrade) is witnessing an excellent turnout from corporate and institutional customers. This platform contributed to facilitating trade transactions and showcases its commitment to implementing the digital transformation strategy in line with Oman Vision 2040.
Through the advanced DigiTrade Portal, business entities seeking speedy, efficient and easily accessible trade finance solutions can now enjoy numerous features, including single log-in process using their Corporate Online Banking credentials, secure channel to initiate trade finance transactions in a paperless environment, multi-level privileges for proper review and approval of transactions, and a customizable dashboard with a built-in search tool for easy retrieval of records. Customers can as well initiate trade finance transactions online for letters of credits, guarantees, loans against trust receipt, advances and financing against collection documents. In addition, they can use the portal to get a closer monitoring of transaction status by way of auto notification and email alerts, and calendar menu option for timely initiation of transactions.
To avail for Bank Muscat’s DigiTrade solutions, existing corporate customers with Online banking access are required to fill the DigiTrade application form. Corporate customers who do not have online banking access are required to submit online banking application forms along with the DigiTrade application form to the branch or the relationship manager to continue with the registration. The DigiTrade application form can be accessed through: https://www.bankmuscat.com/en/about/Documents/bmforms/Trade_Portal_Application_Form_EN.pdf.
Bank Muscat has been witnessing a remarkable rise in e-channels usage over the past two years. The bank, which is recognised as one of the leading Trade Finance providers in the region, provides tailor-made global trade products and services as part of its trade financing solutions, which are simple to use and come with a highly-competitive pricing structure. The bank issues Letters of Credit, all types of Guarantees, Standby LCs, handles documents under collection, offers document checking services under export Letters of Credit, confirms Letters of Credit and provides various trade financing solutions including forfaiting, receivable financing, trust receipt financing etc., and facilitates secured trade payments and receipts between buyers and sellers. With a strong network of over 500 correspondent banks across the globe and a highly-experienced pool of trade specialists, Bank Muscat offers a number of customised solutions to meet the varying demands of its customers.
The bank also offers Global Trade Services through its Corporate Banking branches at Ruwi, Al Nahda Towers (Ghala), Sohar, Salalah and Duqm as well as at its Head Office in Seeb. Customers may contact the Global Trade Services Help Desk through email at [email protected] for assistance and queries.
As the leading financial services provider in Oman, Bank Muscat has been keenly playing its role in supporting the national economy and has witnessed many successes and achievements in the development of various sectors. The bank will continue to implement its customer-centric vision through a keen understanding of customer needs and provide services in line with global trends to achieve its current and future goals.
