Amin Al Husseini of Oman Arab Bank steps down and Rashad Al Musafir is appointed as Acting CEO

Muscat, February 5, 2018 | Amin Al Husseini and Rashad Al Musafir have started their new roles at Oman Arab Bank as of February 1st, 2018. Al Musafir’s appointment is aligned with the executive succession plan previously adopted by the bank at the senior management level. Al Husseini, who first joined Oman Arab Bank in 2014, has been leading the digital transformation strategy and will be retained by OAB in an advisory capacity, with the mandate to oversee the executive transition and hand-over.

The leadership baton has now been passed to Al Musafir, who has been the Bank’s Deputy CEO and COO for the last 18 months. Al Musafir has over 20 years of banking experience. His previous assignment was with Bank Sohar where he held various leadership positions, including the role of Acting CEO. Al Musafir is a certified public accountant (CPA), holds a BA in economics and finance from Boston University and has completed the Harvard Business School’s general management program.

OAB and Thawani Technologies Sign Partnership Agreement

  • Rashad Al Musafir: The new platform, alongside the bank’s e-payment portal, will contribute towards enhancing retail trade and services in the Sultanate.
  • Majid Al Amri: Thawani platform is the most advance solution to facilitate payments for merchants and consumers alike

Muscat, February 13, 2018: Oman Arab Bank (OAB) and Thawani Technologies have recently entered into a partnership agreement under which OAB will function as the banking partner of the Thawani platform, an innovative e-payment solution. The signing ceremony saw the presence of Rashad Al Musafir, Acting CEO of OAB, representing the Bank, and Majid bin Fayil Al Amri, Founder and CEO of Thawani, representing Thawani Technologies.

The agreement was signed at a press conference held at the Grand Millennium, Muscat; in which it was stated that OAB will act as the banking consultant for Thawani to ensure that the smart platform products comply with instructions set forth by the Central Bank of Oman (CBO) and other market authorities. Additionally, OAB will also work closely with them on matters relating to risk management and combating financial fraud, alongside the execution of all transactions via Thawani’s new e-payment app.

Rashad Al Musafir ntoed, “OAB has previously invested extensively in building its e-payment gateway as part of its digital transformation plan. This gateway was successfully launched a few weeks ago. The signing of this partnership agreement with Thawani, for the launch of this unique platform, the first of its kind in the Sultanate, will greatly benefit the retail and services sector. It will further facilitate easy payment processes while at the same time ensuring privacy, confidentiality, and security.”

From his perspective, Majid Al Amri noted, “We are delighted to partner with a bank that has such a visionary outlook for the e-payment field. We are confident that the Thawani platform is going to play a fundamental role in facilitating digital transactions. Over the course of the last six months, we have witnessed high market demand for e-payments solutions and the technology utilised for the Thawani platform is amongst the most advanced in the world. Today, we see a new era for e-payment solutions in the country; made possible through our advanced app utilising the latest technologies and overseen by highly qualified staff, in cooperation with a pioneering banking institution, well known for its innovative digital solutions.”

OAB launched its e-payment gateway in late December in line of its future vision of the financial services’ sector, which is currently undergoing a rapid transformation towards a more digital economy. The Bank has been working to provide e-payments solutions that ensure transparency and convenience for all customers, with advanced levels of security and ease of use, that encourage them to carry out their business transactions through the Internet.

Thawani Technologies launched its new e-payment platform ‘Thawani’ in May 2017 to become the first of its kind in the Sultanate. The platform featured an innovative design that ensured easy accessibility of its services for both businesses and consumers. The users need only carry out the initial setup and enter their financial data in order to start using the app and make or receive payments. As such, the platform has introduced the Sultanate to a new era of financial transactions, one that will facilitate easier and faster payments while reducing all probable risks.

As for security, Rashad al Musafir asserted that the platform is set up in accordance with all CBO regulations as well as international PCI DSS and PA-DSS standards for data integrity and secure encryption.

Al Amri also confirmed that Thawani, in collaboration with relevant departments at OAB, adopts very strict controls to ensure fraud protection, risks management, and anti-money laundering.

Starting from March 13, the Thawani App will be made available on both Google Play and App Store for free. While using the App, customers will not only enjoy absolute convenience but will also be able to keep their banking data completely private. They will not be required to share any card, bank, or account information at any point during a transaction. In addition, with Thawani, customers need only scan the buyer’s QR code and enter the amount of payment required to complete the transfer process. If you are not present at the shop, you can instead use their supplied merchant ID or saved phone number to carry out the transaction. Alternatively, the merchant can send you a payment request via ‘WAYYAK’ on the app, which you can then approve to complete the transaction. In addition to the convenience it provides, the app also offers a wide range of other benefits including a new alternative for making bill payments.

For businessmen and retail merchants, the new platform from Thawani and OAB will be far more useful than systems currently available on the market. In addition to the minimal fees required for using the platform, the time to complete a payment transaction is amongst fastest in the market, thanks to new technologies and programs developed by both Thawani and OAB. As such, the app will definitely reduce human errors and encourage staff to focus more on customer service rather than the financial process itself.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices and 148 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.

For more information on Thawani go online to www.thawani.om or call +968 2456 5013, you can also follow the brand on its ‘ThawaniPay’ facebook page, on instagram at www.instagram.com/thawani_pay, or on twitter @Thawani_Pay.

Barr Al Jissah and Oman Arab Bank Join Hands to Offer New Luxury Lifestyle Experiences

Muscat, February 18, 2018: Barr Al Jissah, the exceptionally exclusive destination and first Integrated Tourism Complex (ITC) in Oman, and Oman Arab Bank (OAB), a leading Banking institutions in the country, signed a Memorandum of Understanding (MoU) for a long term partnership. This partnership will see Barr Al Jissah and OAB’s Elite Banking Program, one of the most established programs of its kind in the country, join forces to offer exclusive luxury services and experiences to customers with very privileged benefits.

The signing of the agreement took place on February 5. Representing Barr Al Jissah at the event was Hussain Al Khabouri, the Chief Operating Officer, while OAB was represented by Rashad Al Shaikh, the DGM of Retail Banking. The Executive management and senior members of staff from both companies were also in attendance.

Commenting on the new partnership, Hussain said, “OAB’s Elite banking service for high net worth individuals, complete with its host of exclusive benefits and dedicated customer service sections in all flagship branches, is amongst the best available in the market. It is a perfect complement to the exceptional services and benefits we ourselves offer to visitors and home owners. We are honoured to have signed this MoU with them and I am confident their Elite banking service will be a great addition for all our new and existing home owners, whilst the preferential home financing will be a great option for those still looking to purchase a property here at Barr Al Jissah.”

Rashad added, “As the Sultanate’s first established ITC and one of the leading luxury destinations, Barr Al Jissah offers unique lifestyle experiences that cannot be found elsewhere in the country. The high-end luxury homes and lifestyle they offer are of the highest calibre and of a standard that perfectly complements our Elite Banking Service. We are honoured to have joined hands with them and look forward to a long a fruitful partnership ahead.

As part of the partnership, Barr Al Jissah lifestyle and OAB Elite Banking services will be offered with some exceptional benefits. These will include Home Loans at preferential rates from OAB for anyone looking to purchase property at the ITC. The Bank will also present all existing and new home owners at Barr Al Jissah with an Elite Banking account together with all the benefits that accompany it. This includes a dedicated relationship manager, free for life Elite Visa Infinite Credit and Platinum Debit card, preferential pricing on deposits and loans, special tariffs for bank charges (including safe lockers), unlimited complimentary lounge access at over 700 International Airports, complimentary chauffeur service for up to six trips a year to and from Muscat International Airport, and free travel insurance, purchase protection, and extended warranty with Visa Infinite. Furthermore, OAB Elite Visa Infinite customers can enjoy value added offers at renowned merchants across the Sultanate of Oman and GCC and will be presented with free 2,000 bonus points upon card activation. Card usage is also rewarded with spend points at the rate of one point for each one riyal transaction. These can be redeemed online across major airlines, hotels, or car rentals.

In addition, Barr Al Jissah real estate projects, namely its Al Mina Waterfront Residential Development and Bannenberg & Rowell Limited Edition Townhomes, will be exclusively showcased as the suggested real estate project within the OAB elite banking investment consultancy program. The Al Mina Waterfront Residential Development, which is currently under construction, is the latest addition to the ITC and is home to the cleanest and deepest marina in the country. The Bannenberg & Rowell Limited edition townhomes are a one-of-a-kind home with a unique interior inspired by modern yacht design.

As part of the MoU, Barr Al Jissah will provide all OAB Elite customers with a number of offers for the facilities, lifestyle experience, and services available at the ITC. These include 25% discount and priority booking at BAJ events with door-to-door delivery of tickets, 30% discounts for family and children’s activities at the Al Mazaar Entertainment Centre, and 20% off rooms, dining and spa at both Shangri-La Barr Al Jissah Resort & Spa and Shangri-La Al Husn Resort & Spa. Oman Arab Bank Elite Customers looking to purchase home at Barr Al Jissah will also be presented with preferential pricing.

Purchasing a home at Barr Al Jissah also comes with a host of exclusive and exceptional lifestyle benefits. These include direct access to the luxury amenities provided by Shangri-La Barr Al Jissah Resort & Spa and Shangri-La Al Husn Resort & Spa via a membership program, as well as access to the private beaches and exclusive marina facilities of Barr Al Jissah through private berth booking and being a home owner. The latter include access to the members-only yacht club and its facilities. The Yacht Club, which is currently under construction, will include a new dive and sailing centre, private beach, two saltwater infinity pools and a unique beachfront zone. The club will also feature a one-of-a-kind upscale marina-side boardwalk with boutique retail outlets and al-fresco dining.

In addition to these benefits, Barr Al Jissah home owners also receive private concierge services by a dedicated in-house team. This service will be complemented by a soon-to-be-released secure and personalised mobile app offering home and yacht owners at Barr Al Jissah the most convenient lifestyle available in the country.

For further information and details, please visit www.barraljissah.com and www.oman-arabbank.com

OAB Opens New Flagship Branch in Sur

Muscat, February 25, 2017: Highlighting its commitment to offer the best financial solutions and customer experiences across the Sultanate, Oman Arab Bank (OAB) celebrated the opening of its new flagship branch in Sur. The all-new customer-focused branch is conveniently located at Sur’s Souq, and will deliver greater levels of convenience and enhanced banking facilities to the Bank’s customers in Sur.

The official branch opening took place on February 21, and was held under the auspices of His Excellency Sheikh Nasser bin Mohammed Al Hashar and was attended by Rashad Al Musafir, Acting CEO of OAB, together with other senior members of the Bank management and staff. Also in attendance were several of the Bank’s VIP customers from the region.

Commenting on the launch of the new branch, Rashad Al Musafir, Acting CEO of Oman Arab Bank noted, “This event marked the first of several new branches that we plan on opening, re-positioning, or transforming this year, as part of our ongoing nationwide transformation strategy for the bank. As with the other branches that have undergone this change, this revamped flagship Sur Branch will feature the very best in technology and products, together with personalised levels of service, generous size, spacious layout with two cashiers and five Universal of Customer Services (UCC), and a significantly large parking area. As a result, this new branch will elevate the banking experience for our customers in Sur to an entirely new level.”

The new Sur branch features an enhanced brand identity with a refreshed look and feel, identical to the two flagship branches opened last year by OAB, in Qurum and Barka respectively. Aesthetically, its design inspiration has been taken from the ‘Omani Skyline’, wherein the white symbolises Omani architecture, browns denote the sand deserts, grey referencing the mountains, and the blue glass overhangs representing the sky.

The sleek, modern, and streamlined look is augmented by a number of features and systems introduced as part of the new transformed branches. This includes the introduction of a new meet and greet facility with a streamlined queuing system, private advisory spaces with moving monitors for more personal interaction, together with digital signature pads and ID Card readers within the advisory station design.

The new Sur branch also has a separate ‘Elite’ reception, lounge, and offices, in order to provide premium customers with an elegant and private experience that remains memorable. The branch transformation combines elements of design, form, and function and aims to elevate the customer experience as a whole resulting in better service.

Al Musafir added, “This marks the first of a series of branches we plan on opening this year across the country. As yet another one of our flagship branches, the new Sur branch joins the Qurum and Barka branches as amongst the largest in the country. This new branch will help us transform the banking experiences of our customers in Sur and the surrounding area, helping us not just meet, but exceed their expectations; taking us one step closer to our ultimate goal of being the bank of choice for customers across the country.”

“OAB has a long term vision for the future of banking in the Sultanate. It is aware of the rapid changes imposed by modern technology in banking sector; therefore, it is implementing its transformation strategy in such a way as establish itself as the first bank of choice across the Sultanate. The most notable feature of this strategy is transforming its bank branches; and in turn transform the banking experiences of our customers and helping us not just meet, but exceed their every expectation,” he concluded.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices across and 148 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.

OAB Conducts First Draw of Hasaad Savings Scheme 2018

Muscat, February 28, 2018: Following the launch of its new Hasaad Savings Scheme for 2018 last month, Oman Arab Bank (OAB) has conducted the very first draw event for the month of January. The draw saw 83 winners from across the Bank’s branch network receive OMR 1,000, together with one winner of OMR 20,000 as part of the Monthly Elite Draw.

“Following feedback we received from our customers, we have further streamlined the Hasaad Savings Scheme for 2018 to include all our clients from across our 58 branches in our draws on a monthly basis,” said Fahd Amjad, the General Manager of Retail Banking at OAB, while commenting on the new scheme. He added, “On behalf of OAB I would like to congratulate each of the 84 winners of the very first draw of the Hasaad Savings Scheme 2018. I would also like to encourage all our customers to increase their savings to maximise their chances of winning one of the hundreds of prizes available before the end of the year.”

Hasaad Savings Scheme in its current edition offers the Bank’s clients across all regions and branches a chance to win one of several valuable prizes on a monthly basis. These prizes come as part of the Bank’s monthly draws of OMR 1,000 per winner for the lucky winners across all branches. Regional Prize Draws, which will see one winner of OMR 20,000, conducted once every two months over the course of the year. The Hasaad Savings Scheme will also include 12 dedicated prize draws for Elite account holders with one winner of OMR 50,000 every quarter and one winner of OMR 20,000 for every other month in between.

OAB customers can easily open a ‘Hasaad’ account with a minimum balance of OMR 100, in order to be eligible for most of the prize draws.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices and 148 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.