Muscat – National Bank of Oman (NBO) has been selected by the Tax Authority as its exclusive bank to manage the strategic account for value-added tax (VAT).

The value-added tax in Oman was introduced in April this year to add additional revenue to the government’s overall income as outlined in Oman’s 2040 Vision.

Hassan Abdul Amir Shaban, NBO’s general manager – chief government banking officer, said, “We would like to thank the Tax Authority for their trust and confidence they have shown in our brand and our financial services by assigning such an important strategic account to NBO. We are proud of our long-standing relationship with the government which is in line with our commitment towards the country’s economic development.”

Through a number of partnerships with both public and private entities, NBO is providing integrated banking services with an innovative approach.