I did my internship under finance department in Oman International Bank for a period of six weeks.

Oman International Bank was founded by H. E. Dr. Omar Bin Abdul Muniem Zawawi in 1984. In the second half of 1984, H. E. Dr. Omar Zawawi, with the approval of the Central Bank of Oman negotiated an agreement with the British Bank of the Middle East to acquire 14 of their branches effective from the 13th of December 1984. Today the Bank has a large branch network of 83 branches in Sultanate of Oman and 5 Overseas Branches 2 in India and 3 in Pakistan. The finance department was divided into three sections: a) Payment section b) Management Information Report(MIR) processor section c) Credit section Each section work was on daily, monthly, quarterly and yearly basis. The payment section has five employees. Under this section employees were: 1. To deal with the request of goods through quotations from three different companies. The bank takes the lowest price, takes the approval from the authority and raises LPO (Local Purchase Order). 2. To deal with contract payments such as CSD (Customer Service Department). contracts. 3. To enter the lists of employees who has claimed for the medical bills in Microsoft Excel. 4. To register the payment, invoice, fixed asset claims in the register book. 5. To enter the purchase order invoice details into the system REFLEXI. 6. To enter the details of medical, rent, staff claims, postage, water and telephone bills into the system PLUS80W. 7. To enter the details of fixed assets into the system FAMIS. The MIR processor section has five employees. Under this section employees were: 1. To prepare daily statistics concerning balance sheet and profit and loss account. 2. To prepare statements of interest rates on total deposits of public enterprises, private sector and non-resident sectors. 3. To prepare savings account report. 4. To prepare fixed asset reconciliation, provision account reconciliation and dividend reconciliation. 5. To prepare report of exchange gain or loss on overseas investments. 6. To prepare and send reports to Ministry of National Economy. 7. To prepare and send semi-annual branch report to CBO. 8. To prepare and enter MAL(Maturity Adjustment List) and SAL(Sensivity Adjustment List) into the system ALMIGHTY and send the report to CBO.

The credit section has three employees. Under this section employees were: 1. To submit reports to finance, retail and risk departments and finally to CBO. 2. To process information from MSM. 3. To prepare tracking sheet regarding the customer loan accounts in the bank. 4. To enter the receiving interest vouchers into the system PLUS80W. 5. To prepare reports on syndication loans.

As a trainee, I worked under finance department and gained insight about the various products and services offered by the institution at personal and corporate level and about the detailed procedures of payment and credits schemes issued by the bank. I also got the opportunity to learn how to feed invoices in the company software PLUS80W at the time of registering purchase orders and fixed assets. During the tenure of the internship, a) I was allowed to observe the daily functioning of the finance department of the bank. b) I understood the working of the fixed asset, invoice and purchase order registration in the payment section. c) Gained insights about the various reports prepared by the MIR processor. d) I acquired the knowledge in settlement of personal and corporate bills and payments. e) I completed assignments under the guidance and request of the department manager.

The overall working experience with Oman International Bank was outstanding and I got a good exposure to the Oman Banking Sector. Working with the highly qualified and experienced managers was a good opportunity for me to learn and develop my knowledge on the various financial services and products available in Oman.