Bank Muscat signs an agreement with Lulu Hypermarket for an advanced online banking solution for businesses


Wafa Ibrahim Al Ajmi, Deputy Managing Director – Transactions and Government Banking Services, Bank Muscat and Shabeer KA, Regional Manager, Oman, Lulu Muscat Hypermarket LLC, said:

Muscat: In line with its commitment to improve business connectivity and digitization for its business partners, Bank Muscat, the leading financial services provider in the Sultanate of Oman, has signed an agreement with Lulu Muscat Hypermarket LLC to provide its business service to the cutting edge of technology. Online banking solution. Lulu Group International, a multinational conglomerate is one of the largest retail chains in Asia, operating a chain of hypermarkets and shopping malls. Bank Muscat continues to leverage its technological expertise to provide Lulu Muscat Hypermarket with instant and seamless digital solutions tailored to their needs, enhancing their digital experience.

The agreement was signed by Wafa Ibrahim Al Ajmi, Deputy Managing Director – Transactions and Government Banking Services, Bank Muscat and Shabeer KA, Regional Manager, Oman, Lulu Muscat Hypermarket LLC. Bank Muscat Corporate Online Banking’s enhanced “multi-company” relationship feature offers Lulu Muscat Hypermarket the benefit of accessing its group companies’ full banking relationship with Bank Muscat through the credentials of a single user. This solution thus offers Lulu Muscat Hypermarket complete control and access to the accounts of the companies in its group. The establishment of “multi-company” relationships in Corporate Online Banking benefits all large corporate groups with subsidiaries in managing transactions between group company accounts.

Speaking on the occasion, Wafa Ibrahim Al Ajmi, Deputy Managing Director of Bank Muscat, said: “We are delighted to integrate the Lulu Muscat hypermarket into our advanced corporate online banking. Our corporate online banking with its “multi-corporate” relationship setup feature will benefit Lulu Muscat hypermarket with full visibility and control over transactions between group accounts accompanied by ease of use. Bank Muscat believes in the importance of leveraging the latest technologies to provide new and improved digital banking solutions to its customers. In an increasingly competitive and dynamic environment with rapid digital transformation impacting every industry, businesses are looking to a banking partner who can offer solutions that keep pace with dynamic markets and are accessible globally.

Shabeer KA, Regional Manager, Oman, Lulu Muscat Hypermarket LLC, said, “We are proud to partner with Bank Muscat to utilize the bank’s dynamic digital payment solution. The Corporate Online Banking solution seamlessly meets all our payment requirements in a smooth and frictionless manner, and helps to significantly improve our operational efficiency. This speaks to our constant efforts to embed digital transformation in our group to make our business operations more efficient.

Bank Muscat announced earlier this year the launch of its “integrated transaction banking platform”, as part of the bank’s digital transformation plan, which offers a wide range of online functionalities, including payments, the consolidated dashboard of bank accounts in all banks, direct debit solution, virtual accounts and liquidity solutions. The new digital platform stems from the bank’s belief in the importance of achieving the highest level of services provided to its customers in a way that meets their needs and adapts to market changes, while offering the highest level of security. The bank’s online corporate banking platform and B2B Connect solution also facilitates the payment of employee salaries through a secure payment channel under the Wages Protection System (WPS) as mandated by the Central Bank. of Oman and the Ministry of Manpower.

As a trusted banking partner in Oman, Bank Muscat is committed to helping businesses stand out in digitalization to create a thriving business environment. Bank Muscat offers a comprehensive suite of technology-driven products, services and digital offerings for government entities, corporates and SMEs in the area of ​​payments, account services, collections and receivables, liquidity, point-of-sale (PoS) terminals and payment gateway. .

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