National Bank of Oman (NBO) has opted for a Misys banking solution to handle its guarantee and letter of credit (L/C) transactions.

The Misys Trade Portal solution aims to enable NBO to expand its business coverage and support its growing trade volumes.

Trade expansion

As part of NBO's plan to expand its trade finance business, the bank recently conducted a comprehensive evaluation to find a provider to replace its legacy trade finance processing system.

This led to NBO's decision to select the Misys Trade Portal solution.

Functionality

General manager of wholesale banking at NBO, Humayun Kabir, says what impressed the bank was "the fully integrated front-to-back trade finance solution offered by Misys."

Misys Trade Portal provides a range of trade finance solutions and services traditional instruments such as L/Cs, guarantees and collections as well as open account services.

Regional network

Founded in 1973, NBO is one of the largest banks in Oman and was the first local bank in the Sultanate.

The bank has 64 domestic branches as well as five branches in Egypt and one in the UAE.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.