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Bank Muscat Wins Best Bank for Liquidity Risk Management.

Muscat, Oct 12 (ONA) --- Bank Muscat has won the Best Bank in Middle East and Africa for Liquidity Risk Management award by the Asian Banker. The bank is the first in the region to win this prestigious award from the Asian Banker.

The Asian Banker Risk Management Awards programme is designed to identify emerging best practices and outstanding achievements of the best run risk management teams in financial institutions.

The awards are benchmarked globally by tracking developments around the world. Risk management is at the heart of decision making at financial institutions and its importance has been underscored in the aftermath of multiple global financial crises. In this context, the prestigious award comes as a testimony to the superior risk management practices adopted by the bank and the investment it has made over the years in developing its risk management as an area of core competence.

AbdulRazak Ali Issa, Chief Executive, said: "Bank Muscat is proud to be the first in the region to win the liquidity risk management award, which endorses the global best practices adopted by the bank. Risk management function is a core competence of the bank to ensure maintenance of risks at appropriate levels, thereby positioning the bank for optimal growth by maximizing on revenue opportunities."

The bank's risk appetite framework is cascaded top-down to reflect in business units, which enables them to manage product pricing in line with the corporate return-on-equity objective. In step with the global economic and financial developments, the bank maintains an appropriate risk profile by reducing exposure to areas of stress.

--- Ends/AH

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Publication:Oman News Agency
Date:Oct 12, 2015
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