Overview
Bank Muscat is the largest commercial bank in the Sultanate of Oman by assets, deposits, and market capitalization. Established in 1982, the bank has grown to become the dominant financial institution in the country, offering a comprehensive range of retail, corporate, investment, and Islamic banking services. Bank Muscat operates an extensive branch and ATM network across all governorates of Oman and maintains international presence in key markets. The bank has played a pivotal role in financing major infrastructure and development projects within the Sultanate, providing credit facilities to government entities, large corporations, and small and medium enterprises alike.
Key Facts
- Largest bank in Oman by assets, deposits, and market capitalization
- Established in 1982, listed on the Muscat Stock Exchange
- Offers retail, corporate, investment, and Islamic banking through Meethaq brand
- Operates extensive branch network across all Omani governorates
- Provides trade finance, project finance, and treasury services
- High Omanisation rate among its workforce
- Recognized with multiple regional and international banking awards
Significance for Vision 2040
Bank Muscat’s scale and market position make it a critical enabler of Vision 2040’s economic objectives. The bank’s lending capacity supports the financing of diversification projects across tourism, manufacturing, logistics, and technology sectors. Its SME financing programmes directly contribute to Vision 2040’s goal of expanding the private sector and fostering entrepreneurship among Omani nationals. Through its Islamic banking subsidiary Meethaq, Bank Muscat provides Sharia-compliant financial products that broaden access to capital for individuals and businesses seeking alternative financing structures. The bank’s investments in digital banking and fintech capabilities align with Vision 2040’s digital transformation agenda, while its high Omanisation rate demonstrates the private sector’s capacity to employ and develop Omani talent.