Leadership2 Essay Example | Topics and Well Written Essays - 5750 words

Leadership2 - Essay Example Bank Dhofar is one of the financial services firms growing at unprecedented rates in the Sultanate. The management team is proud of the quality of the services the bank offers. Project finance services, consumer banking, treasury services, and corporate banking are designed to satisfy the diverse needs of consumers, small and medium size businesses, and medium-size companies across the Sultanate. The history of incorporation of Bank Dhofar traces back to January 1990. By then, the bank was referred to as Bank Dhofar al Oman al Fransi. There were only two branches at Salaash and Muscat. During this time, Oman was still an absolute monarchy characterised by widespread autocracy. Bank Dhofar extended its network in 1992 by acquiring Bank of Credit and Commerce International from the Central Bank of Oman. The year 1999 saw the bank inaugurating the head office in the Commercial Business District. More improvements were witnessed when the bank purchased 16 commercial bank branches in 2000, mergered with Majan International Bank in 2002, obtained all regulatory and administrative approvals in 2003, and launched Maisarah Islamic Banking Services in 2013. Presently, Bank Dhofar is the second largest bank in Oman based on the market share. The bank has changed leadership styles over time to keep pace with the market dynamisms. The reputation concerning strong commitment to consistency and growth has helped boost the popularity of Bank Dhofar as financial institution. Managing employees across all branches requires fair, but strict leadership policies in order to avoid laxity at work and ensure that workers are highly motivated to work towards improved performance. Bank Dhofar has a vision of maintaining their status as the best bank in the Gulf. The vision will be achieved through delivering the best experiences to the bank’s customers and creating both personal and collective development