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Bank MuscatOman
Created before Nov 2016
Last update: 2017-06-23 13:58:56
Johan Frijns, BankTrack
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About Bank Muscat
Bank Muscat head offices Oman. Photo: Richard Melson via Google images (non commercial reuse)Bank Muscat was founded in 1982, and is currently the leading financial services provider in the sultanate of Oman. The bank has a strong presence in corporate banking, retail banking, investment banking, islamic banking, treasury, private banking and asset management. In addition, the bank has direct and indirect presence in all six GCC (Gulf Cooperation Council) states, a representative office in Singapore which focuses on financial institutions and trade business, and is an associate in a securities company in India. Its total assets amounted to USD 28.104 billion in 2016.
Bank Muscat was the first Middle Eastern bank to adopt the Equator Principles in 2007, and is profiled as part of BankTrack's Equator Principles Track and Chase project.
| Website | http://www.bankmuscat.com |
| Headquarters |
Markaz Al Tejari Street
P.O. Box No.134 Post Ruwi
Oman
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| CEO/chair |
AbdulRazak Ali Issa Chief Executive |
| Supervisor | |
| Annual reports |
Sustainability report 2016 Annual Report 2016 Sustainability Report 2015 |
| Ownership |
listed on London Stock Exchange & Muscat Securities Market
Public Shareholders. For information on its largest shareholders go here. |
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Policies
Voluntary initiatives
Bank Muscat has committed itself to the following voluntary standards:Investment policies
Bank Muscat has integrated its investment policies in its sustainability report (to be found under 'Documents'). On the bank's website there also is section devoted to its Corporate Social Responsibility Vision, available here. All eligible projects are reviewed and evaluated against applicable social and environmental parameters. The Equator Principles and Social and Environmental Management System are our two policy mechanisms for mitigating the social and environmental impact of projects financed by the bank. In addition, we require that our clients are in compliance with applicable environmental laws and regulations in the country they operate, and ensure that instances of non-compliance are resolved.
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Issues
Bank Muscat and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. Bank Muscat adopted the Equator Principles in 2007.
Reporting on the Equator Principles
Bank Muscat must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
- Bank Muscat is not in compliance with its reporting obligations. The link provided does not link to the required information
Equator Principles
Implementation and reporting
Bank Muscat is reporting on the implementation here.
Contact and complaints
Good moves
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