Oman’s BankMuscat appoints SGSS as funds services provider

BankMuscat, a financial services provider based in Oman, has appointed Societe Generale Securities Services (SGSS) to provide fund administration, registrar & transfer agency, domiciliary and custody services in Luxembourg to the bank’s asset management division.

SGSS offers a comprehensive range of financial services for investment professionals, comprising asset managers, institutional investors, financial intermediaries and corporations.

These services include clearing, custody & trustee services, retail custody services, fund administration & asset servicing, liquidity management, fund distribution services and also global issuer services.

BankMuscat is the largest bank in Oman, with a local market share of 40 per cent, over $18bn of assets, capital of over $2bn and a customer base of over $1.2m.

BankMuscat Asset Management Division is the first fund house in Oman with funds rated by Standard & Poor’s. It manages assets of over $800m across equity and fixed income strategies, primarily in the Gulf countries.

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