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Sun 29 Apr 2001 04:00 AM

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BankMuscat extends corporate services with MKI deal

BankMuscat signs deal with MKI for City Dealer DBA dealing room platform. Platform will form core of new wave of corporate services

BankMuscat has signed a deal with Midas-Kapiti International (MKI), for its City Dealer Platform. The dealing room platform form the core of a new wave of advanced corporate banking services, such as Foreign Exchange and Internet Rate derivates to the Omani market.

BankMuscat has already been campaigning within the corporate segment, hosting seminars and educating its client base about the potential benefits of ‘hedging’ strategies. “We are acquiring City Dealer DBA to be able to utilise our significant pool of treasury expertise and introduce very quickly a wide range of new corporate products and enhance customer services,” says Abdulrazak Ali Issa, BankMucat’s chief executive officer.

With the City Dealer platform in place, the Omani bank plans to offer products from major financial centres around the world. Ali Issa adds, “because of the market potential we offer overseas institutions, we are able to locally offer products from financial markets from around the world at extremely competitive prices,” he explains.

“For the first time the Omani corporate sector will be able to buy these products from the local bank, with all the associated advantages of local knowledge, speed of service and commitment to Oman,” says Issa.

The City Dealer DBA is a deal capture, position keeping, market and credit risk platform, designed to automate and control dealing room activities across a wide range of treasury products, ranging from Foreign Exchange and Money Market, through to Capital Markets and Derivatives products.

The solution plugs into other MKI products such as Equation DBA and Midas DBA and it has also be designed to integrated with non-MKI back office systems.

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