Press Releases

Oman Air & Bank Muscat Partner to Offer Customers Even Greater Value

Date: 20 Jun 2010

Oman Air, the national airline of the Sultanate of Oman, has signed a Memorandum of Understanding (MoU) with Bank Muscat, the leading Omani financial services provider.

Under the terms of the MoU, Oman Air SAOC and Bank Muscat will work across a range of activities to promote each other’s products and services to their employees and customers.

Abdulrazaq Al-Raisi, Oman Air’s General Manager Worldwide Sales, welcomed the Memorandum of Understanding, saying: “We are delighted that Oman Air and Bank Muscat will be working together to offer customers the very best in both air travel and financial products and services. Both Oman Air and Bank Muscat are committed to providing the very highest quality to all our customers and this Memorandum of Understanding will ensure that even more people will benefit.

“Bank Muscat is an ideal strategic partner for Oman Air and, together, we look forward to creating new opportunities, accessing new markets and delivering even greater value.”

The MoU is wide-ranging and paves the way for a broad range of initiatives, including a co-branded credit card, the extension of Oman Air’s Sindbad loyalty programme to holders of the new credit card, the sitting of Oman Air self-service kiosks in Bank Muscat branches, the promotion of Bank Muscat’s products to Sindbad members and a series of joint marketing ventures.

The signing of the Memorandum of Understanding with Bank Muscat continues Oman Air’s development of partnerships and deals with some of the world’s most respected businesses, each bringing additional services and benefits to the carrier’s customers.

With assets worth over USD 15 billion, Bank Muscat (SAOG) has a strong presence in corporate, retail, private and investment banking, treasury and asset management. The bank has the largest network of branches in Oman, with 125 branches and 362 ATMs, 112 CDMs and 4,200 PoS terminals. It also has a branch in Riyadh, Saudi Arabia, and a representative office in Dubai (UAE). In addition, Bank Muscat currently owns 49% of BMI Bank BSC, an independent bank in the Kingdom of Bahrain, has a 43% stake in the Mangal Keshav Group, one of the oldest and most respected securities houses in the fast-growing Indian equities market, and has a stake in Silk bank Ltd in Pakistan.

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