Bank Sohar organized a workshop on Trade Finance in coordination with Ministry of Finance Bank Sohar, in close coordination with the Ministry of Finance, Oman, organised a Workshop on Trade Finance. The aim of the Workshop was to create a better understanding and awareness of Trade Finance instruments such as Letters of Credit, Letters of Guarantee, Loan against Trust Receipts and Documentary Collection. The Workshop was well attended by concerned officials from various ministries, government offices and government related companies. From the Bank’s side, Mr Tahir Al Amry, Director, Dr, Mohamed Abdulaziz Kalmoor – CEO, Ms Munira Macki, DGM – HR & Corporate Support and Mr R Narasimhan, DGM & Head Wholesale Banking welcomed the gathering. Ms. Jeanan Sultan, Assistant General Manager and Head of Government Relations at Bank Sohar said that after the global financial crisis, importers and exporters were once again relying on LCs and LGs to reduce risks inherent with trade. The Workshop organised by Bank Sohar was designed to make the participants aware of the types of instruments available, their uses and suitability for various types of trade transactions and also gain some insight into the latest regulations and protections offered by Uniform Customs & Practice (UCP) Version 600. The Workshop was conducted by Mr. Mustafa Ali Mukhtar, Assistant General Manager and Head of Trade Finance at Bank Sohar. He is well experienced in the Trade Finance field, having had more than 24 years of experience in Trade Finance at various Banks in Oman. Mr. Said Al Weshahi, Senior Manager, Trade Finance Marketing, a newly developed Unit of Bank Sohar also made presentation to the gathering. The Workshop was held on 7th April, 2010, at Bank Sohar’s state-of-the-art training facility. Mr. R Narasimhan, DGM-Wholesale Banking said that Bank Sohar is committed to being a knowledge led bank, and that this Workshop was part of the process of sharing knowledge and experiences with its major customers. He also considered this as part of the Bank’s efforts to increase competency in specific functional areas, so that customers get much more than simply banking with Bank Sohar. One of the key initiatives taken by the bank is to set up a separate Trade Finance Marketing Division headed by a Senior and experienced Person, Mr Said Al Weshahi. His role is to coordinate across the business segments, as well as to advise clients on trade finance related services offered by our Bank.
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