OMAN ARAB BANK LAUNCHES NEW MASTERCARD CORPORATE CREDIT CARD

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Muscat, May 1st 2016 – Oman Arab Bank (OAB), in collaboration with MasterCard, launched its first Corporate Credit Card to provide its growing corporate client roster with enhanced efficiency, flexibility and convenience in managing employee business expenses. The OAB MasterCard Corporate Credit Card offers customers the ability to seamlessly track and manage business related expenditure online as well as access Smart Data, MasterCard’s renowned suite of reporting and expense management tools. The new service also offers card holder level, department level and company level statements for tracking and accountability.

In addition, the new offering from OAB will provide Corporate Customers with a number of unique privileges and services including access to airport lounges in several major cities. Customers can also participate in the highly popular Priceless Arabia campaign, which gives cardholders a number of exclusive offers and experiences in the Middle East and North Africa from dining and shopping to exciting travel and entertainment options.

On the occasion, Alsalt Al Kharusi, Head of Corporate and Institutional Banking and GM at Oman Arab Bank, said, “This is our first collaboration with MasterCard. The launch of this new strategic product falls in line with our objective to cross sell new products to our corporate client base and further strengthen our relationships by providing innovative financial service solutions.”

Al Kharusi added, “The Oman Arab Bank MasterCard Corporate Credit Card is a sophisticated product that will open new avenues for business owners, entrepreneurs and companies in Oman and facilitate the way corporate expenses are managed and executed.”

Raghav Prasad, General Manager – Gulf Cluster, MasterCard, said, “Commercial payment solutions are a key area of focus for MasterCard, and we are excited to collaborate with Oman Arab Bank so businesses in Oman can streamline their purchasing processes to manage expenses efficiently. Through this partnership, Corporates can benefit from simple, safe and secure payments and the power of MasterCard Smart Data Gen.2, all while offering employees the rewards and benefits synonymous with premium credit cards.”

OAB has consistently spearheaded the growth of Corporate Banking in the Sultanate through the introduction of innovative products and solutions designed to fulfill the evolving needs of customers. The Bank’s Corporate Banking expertise spans Trade Finance, Project Finance, SME Business Banking and Treasury Services among others.

OMAN ARAB BANK MAKES BUSINESS PAYMENTS EASY WITH NEW VISA SMART COMMERCIAL CARDS

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Muscat, May 9th 2016 – As part of its efforts to grant businesses of all sizes greater control and convenience when making work related payments, Oman Arab Bank (OAB) recently introduced the OAB Visa SMART Commercial Card. Efficient and secure, the cards are designed to reduce administrative costs and simplify the purchase-to-pay process while giving companies enhanced capabilities when managing their business transactions.

The SMART Commercial Card, which can be used at any location in the Sultanate, also allows companies to easily monitor costs and set spending restrictions with certain suppliers of their choice. Limits can be set on a per transaction, daily, or monthly basis while cash advances and restrictions on authorizations can be fixed with utmost ease. Furthermore, the OAB Visa SMART Commercial Cards utilize the Verified-by-Visa service for added online security and are equipped with EMV chip technology, preventing unauthorised use.

Fahd Amjad, General Manager Retail Banking at Oman Arab Bank, said, “The new OAB Visa SMART Commercial Card are secure, efficient and uncomplicated, providing organizations with the perfect tool to streamline their purchasing and procurement practices. Companies can choose to restrict payments to any merchant they choose, whether online or offline, by implementing a variety of controls as well as having the ability to monitor the cardholder’s activity.”

He added, “The introduction of this service is part and parcel of Oman Arab Bank’s commitment to offer innovative products and solutions that empower customers to manage and enhance their finances.”

Ahmed Gaber, Visa General Manager for Oman, Kingdom of Saudi Arabia, Kuwait, and Bahrain, said, “We are delighted to partner with Oman Arab Bank in launching the OAB Visa SMART Commercial Card and bringing innovative digital payment services to cardholders in Oman. As a global payments technology company, Visa is committed to leading the development of online payment options at a time when more and more consumers in Oman and other parts of the Middle East are switching to cards from cash, both while purchasing online and in person. The partnership with Oman Arab Bank reinforces Visa’s commitment to create a safe payment network that enhances cardholder security while giving consumers an easy and efficient way to manage their finances.”

Oman Arab Bank pioneered the electronic payments business for paying government fees in the Sultanate of Oman when it launched the OAB SmartCard in 2002. The SmartCard, which was used exclusively to pay government fees, remains a favourite amongst corporates until this day and complements the Bank’s newly revealed Visa SMART Commercial Card, which offers enhanced convenience, flexibility, reliability, acceptance and security.

OMAN ARAB BANK REWARDS CUSTOMERS FOR SAVING

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Muscat, May 15th 2016  – Across the Sultanate, the lucky winners of Oman Arab Bank (OAB) Hassad Savings Scheme monthly cash prize draw have been celebrating their good fortune with Mohammed Al Jafari from Al Sharqiyah Governorate picking up the April OMR40,000 Regional Prize. This year alone, 44 OAB savers have won an incredible total of OMR 210,000.

“Designed to encourage our loyal customers to put money aside for the future, the Hassad Savings Scheme offers the chance to win cash every month, just by saving. As long as a balance of OMR 100 is maintained, Hassad Account holders are automatically entered into the highly popular monthly draw,” said Hana Al Hinai, Assistant General Manager, Head of Wealth Management, Bancassurance and Liabilities.

Al Hinai went on to explain that in addition to the regular OMR 40,000 Regional prize, every month five female account holders receive OMR 1,500 and five young savers under the age of 18 years win OMR 1,000 each.

OAB Elite Priority banking customers also enter into two exclusive draws, one in June and the other in December, for a chance to win OMR 100,000. Celebrating special occasions during the year, OAB holds bonus draws for Eid Al Fitr, Omani Women’s Day and National Day in addition to an end of year OMR 100,000 mega-draw in December 2016.