Edutech signs deal to implement training system for BankMuscat

Muscat: Edutech Middle East, a leading provider of technology-enabled learning solutions, has signed a strategic agreement with BankMuscat to implement a customised eLearning and training system, which will familiarise the bank's employees with Basel II standards, according to a statement.

Set to benefit small and medium businesses, Basel II is a voluntary regulatory framework, which requires banks to maintain sufficient information security measures and transparency in loan portfolios to ensure adequacy in capital charges.

The installation of the first solution of this kind in Oman is a significant step in the bank's move towards achieving total fulfilment of Basel II requirements.

Evaluation

The installation of the learning management system, which is expected to be completed very soon, follows an extensive evaluation of the bank's requirements to effectively train employees to perform practices that comply with Basel II specifications. Through Edutech's 'Train the Trainers' philosophy, which blends content and technology to achieve an effective learning management solution, BankMuscat will save time and manpower using the eLearning Basel II module.

In addition, scheduling of training sessions and monitoring to assess individual staff progress can be done with ease through internal company networks, which the human resource department can access at any given time.