BankMuscat is donating $8 million to Cyclone Gonu victims.

BankMuscat SAOG, the nation's leading bank, pledged to contribute RO3 million ($7.79 million) towards the rehabilitation of Cyclone Gonu victims across the Sultanate.

The amount in question will be divided between the Ministry of Social Development (RO2 million) and the Oman Charitable Organisation (RO1 million). The funds will be made available to these organisations over the next 12 months, said a senior bank official.

'Cyclone Gonu is without a doubt one of the worst natural calamities to have hit the Sultanate in living memory. Our heartfelt condolences to those affected by the disaster. As the nation's leading Omani institution, we feel it is our duty to stand by our brother's in this time of need,' said chairman, BankMuscat, Shaikh AbdulMalik bin Abdullah Al Khalili.

'We truly appreciate the tireless efforts of our administration particularly, the Royal Oman Police, the Muscat Municipality, the Ministry of Defense and other key government departments in preparing us for this natural disaster and now for their efforts to restore normalcy to our lives, be it in terms of restoration of power, water or telecommunications services in the shortest span of time,' he added.

With assets worth over $8.5 billion, BankMuscat (SAOG) is the largest Bank in Oman today with a strong presence in Corporate Banking, Consumer Banking, Investment Banking, Treasury, Private Banking, Project Finance and Asset Management.

The Bank has a network of 100 branches and 230 ATMs in Oman and a representative office in Dubai (UAE).Trade Arabia News Service