(MENAFN - Muscat Daily) Bank Sohar recently sponsored a CPE seminar organised by the Muscat Chapter of the Institute of Chartered Accountants of India (ICAI) titled Retail Banking Renaissance'.
Held at the Muscat Hall of College of Banking and Financial Studies (CBFS) in Bausher, the event was attended by Ram Santhanam, CFO of the Salalah Free Zone, as the guest of honour, as well as more than 150 ICAI members and guests. Representing Bank Sohar at the event were R Narasimhan, DGM and head of retail banking, Nandakumar, senior AGM of retail banking and products, Salim Khamis al Maskeri, Senior AGM of branches, Khamis Masoud al Rahbi, AGM of branches, Sandeep Soni, head of retail sales and distribution, Redha al Lawati, head of retail liabilities, together with several other branch managers from the Muscat region.
The seminar was inaugurated with a welcome address by CA Anuradha Venkatkrishnan, chairperson of ICAI Muscat Chapter followed by a detailed presentation on the Changing landscape in the Retail Banking business and Retail Renaissance' by Narasimhan, who gave a comparison of global changes in retail banking business which is equally well adapted by Oman's retail banking space.
Further, Narasimhan gave a full view of the supporting role of the regulator, challenges and Bank Sohar's strategy to position in the retail banking by adopting superior technology, skilled human resources and innovative products. This was followed by a presentation by Nandakumar, who touched on the role of technology in structuring retail products, including loan origination system, remote online payment services, bank assurance and latest remittance platforms.
In addition an overview of the bank's Al Mumayaz Savings Scheme 2014 was presented to the audience by Redha, head of retail liabilities. The final presentation was delivered by Soni who focused on effective customer contact strategies, achieving productivity through smart approaches and distribution strategies to reach the customer. The event concluded with a vote of thanks by CA Umesh Kumar, vice chairman of the ICAI Muscat Chapter.
Bank Sohar's retail banking division offers customers a comprehensive range of products and services. These start with the Al Mumayaz Children Savings Account, a customised savings product exclusively for young children, together with other incentive linked savings products, business banking current accounts, high-yield fixed deposits and various other investment linked products to cater to the savings and investment requirement of the bank's customers.<