OAB Sponsors 13th Annual World Exchange Congress

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Muscat, March 4, 2018: In line with its commitment towards supporting important events hosted by the Sultanate, giving special emphasis to commercial events, Oman Arab Bank (OAB) recently sponsored the 13th edition of the World Exchange Congress. The event was organised by Terrapin in partnership with Muscat Securities Market (MSM) and took place on 27-28 February 2018 at the Shangri-La Barr al Jissah Resort and Spa. As one of the world’s largest financial gatherings, the Congress brought together the world top investment funds and stock exchanges, in addition to several other key stakeholders.

Commenting on the importance of sponsoring such an event, Rashad Al Musafir, the Acting CEO of Oman Arab Bank said, “Sponsoring the World Exchange Congress, which was hosted by MSM, reinforces our strong belief in the necessity of the constant collaboration between the government and private sector. Nowhere is this more evident than in the securities industry. In fact, we are delighted with the knowledge we gained from our participation in such an important forum, one that helped us network and interact with some of the leading experts of the stocks world. Furthermore, a forum such as this is essential in helping boost the profile of the Sultanate on the global financial stage, as well as presenting Muscat, together with its various investment opportunities, as an appropriate and qualified destination to host important international events. As such, we are extremely proud to sponsor this forum and look forward to do so again for any similar events in the future.”

The opening ceremony of the World Exchange Congress was held under the patronage of His Excellency Dr. Ali bin Masuod Al Sunaidi, Minister of Commerce and Industry. The two-day ceremony also saw the attendance of a number of ministers, under-securities, and officials of various securities markets, investment funds, and investment companies from around the world.

This international forum brought together over 250 experts, specialists, and financial decision makers from 60 different countries. Also present at the event were 40 speakers from around the world who presented papers on several different topics including investment opportunities available in the region’s markets, innovative strategies to boost the securities industry, the most recent technologies utilized in stocks exchanges, the technology used in analyzing data and its role in enhancing investment environment and attracting investors, amongst others. The role of securities markets in encouraging innovation and supporting future economic growth, the global trend towards Islamic investment tools, and financial derivatives useful in supporting emerging markets were also investigated.

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 boosts Operational Efficiency with ‘Mirsal’

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  • The new system enhances internal workplace based on accurate KPI’s
  • Periodical statistics on orders type and size, as well as speed of completion

Muscat, March 6, 2018: In line with its constant efforts to promote efficiency within the workplace in order to achieve higher levels of customer satisfaction, Oman Arab Bank (OAB) announced the implementation of the ‘Mirsal’ system. The new system is designed to follow-up on internally-sent orders from all departments and track the time required for completing them. With Mirsal, OAB’s executive management will have at their disposal accurate figures about the number and kind of orders exchanged between departments and the time taken to complete them. With this information in hand, the Bank seeks to reduce the completion time of orders and take yet another step forward towards offering the very best customer service in the Sultanate.

Speaking on the launch of Mirsal, Rashad Al Musafir Acting CEO of Oman Arab Bank, stated, “Mirsal is yet another step forward in our digital transformation plan we launched for OAB in 2016.It is designed to enhance operations and increase productivity within all departments by creating a competitive environment with high-level criteria of quality and performance. The new system was introduced with the aim of further developing the digital infrastructure within the Bank, which in turn ensures we remain at the forefront of e-banking services both within the Sultanate and the region.”

Marwan Al Khouli, Head of Operations at OAB said, “With Mirsal, we have the necessary tools and information we require to streamline procedures and requirements right from the very moment the order is sent to the moment it is completed. Our new system clearly displays the current order status, completion percentage, and the department implementing it; in addition to speed of completion and total time taken. At OAB we consider our staff our internal customers and aim to offer them fast and high-quality tools to easily accomplish their objectives; and Mirsal is a system that perfectly complements this objective. Its implementation will also in turn have a positive effect on the overall customer service of the Bank.”

Mirsal is an initiative launched by the Banking Operations Department to be applied for all OAB departments and offices across the Sultanate in order to reduce manual work, time consumption, and data errors. The system will also unifies and streamlines work procedures across all OAB branches.

The system will provide decision-makers with accurate figures on all received orders, their number, time of completion, and the amount of work given to each employee. The supervisor, therefore, will be capable of distributing the work evenly as well as easily identify productive employees to reward them.

Mirsal also makes the executive management of the Bank aware of the work completed across all departments and the challenges that obstruct work process. Additionally, it will assist in finding solutions to overcome such obstacles which, in return, will increase productivity and quality.

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.

OAB Participates in Career and Training Opportunities Fair

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Muscat, March 11th, 2018: Oman Arab Bank (OAB) recently participated in the Career and Training Opportunities Fair, which was held from March 5 to 7, at the Sultan Qaboos University (SQU). The fair, organised by the Centre of Career Guidance (CCG), saw the participation of 68 government and private enterprises, offering around 279 job and 199 training opportunities for SQU undergraduates.

OAB had set up a booth at the venue, showcasing the Bank’s human resource development plans. It attracted a large number of SQU students wanting to know more about the various career opportunities available for talented young Omani undergraduates.

Commenting on this participation, Adil Al Rahbi, Head of the Human Resources Division at OAB said, “The Career and Training Opportunities Fair, which is organised by SQU every year, is one of the most successful fairs of its kind in the Sultanate. It provides participants, from both the private and government sectors, with the chance to personally meet with students and present their employment and training programmes. OAB has been a keen participant in the fair and introduces career opportunities that are available to the students, annually. We are very pleased to have been able to interact with the students, and have our representatives address all their queries regarding the banking sector.”

The opening ceremony was held last Monday at the SQU Grand Hall, under the auspices of HE Dr Ahmed bin Mohammed Al Saidi, Minister of Health. Also in attendance were several government officials and representatives from the private sector.

Visitors at the fair highly commended OAB’s policies, which were focused on attracting fresh graduates to join the team alongside providing them with opportunities to grow as future leaders in Oman’s banking sector. Visitors also acknowledged the Bank’s immense efforts to train its employees.

“At OAB we strive to develop training programs that are not only beneficial for our Omani employees, but also prepare them for leadership positions within the Bank. Through this approach, we have made our way to the forefront of the Banking sector in the country, with regard to Omanisation. This is primarily due to the majority of the executive positions within the Bank being held by Omanis. In fact we also give priority for the development of skillsets and increasing knowledge within our workforce, which are in compliance with the vision and objectives of the Board,” Al Rahbi added.

OAB had also launched a noteworthy talent development program in 2016 entitled ‘Leadership Enhancement and Development’ (LEAD), which aimed at developing the skills of potential Omani talents within the Bank. Additionally, it also enlightened them on the tools that are required to ascend the career ladder. The programme focused on qualifying Oman’s youth to take advantage of the banking sector and pave the way for further progress in the Sultanate.

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.

OAB Sponsors ABQIS Charity Event

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Muscat, March 13, 2018: Oman Arab Bank (OAB), in line with its efforts to support community activities, recently sponsored the Azzan bin Qais International School (ABQIS) for their ‘International Day for Charity’ event.

Commenting on the Bank’s sponsorship of the event, Hilal Al Siyabi, Head of CSR at OAB said, “OAB has always been a very community oriented bank and supporting such events, especially those that are charity focused, has always been core aspect of our operations. It is through events like these that we can either directly or indirectly help organisations that continue to do important work in our communities, and touch the lives of those in need.”

The event was held at the school premises in Boushar and saw the attendance of a large of number of people. The charity event consisted of several activities including competitions, performances, and face painting. There was also a souq setup at the venue. Also participating in the event were a large number of social media celebrities.

As part of its sponsorship, OAB set up a stall at the event grounds where it showcased its various products as services; particularly its children’s accounts and the accompanying child education savings plan.

“Our child education savings plan was created with the aim of providing parents with an effective means to helps save for their children’s education and build a brighter future for them. It utilises a completely autonomous system for carrying out monthly debits from the parent’s account to the child’s account, thereby offering absolute simplicity and convenience,” added Hilal.

As part of this Savings Plan, parents with accounts at OAB can now open an account for their children, following which a predefined amount will automatically be transferred from the parent to the child’s account at monthly intervals. The monthly savings amount can range from as low as OMR 25 to a maximum of OMR 5,000 and can be amended by the parent at any time without any additional charge. Under the plan the account will benefit from a high interest rate of 1.75% per annum on the monthly deposit balance. As a further value added benefit, the plan offers bonus interest, calculated at 1.25% per annum, once every three years. This bonus is applied above the existing interest rate and is automatically awarded following regular monthly deposits for 36 consecutive months.

In addition to the high interest rate and bonus interest awarded every three years, the plan offer several other benefits. For starters, the account is entitled to take part in the Hassad Savings scheme with a chance to win cash prizes every month as part of the special draws for children. The plan also comes with free life insurance which covers up to OMR 50,000 in case of any unforeseen incident that may occur to the parent. This allows parents to rest assured of the continuity of monthly payments to the account.

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.

OAB Conducts of Hasaad Savings Scheme Draw for February

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Muscat, March 14, 2018: Oman Arab Bank (OAB) recently announced the names of the winners of the Hasaad draw event for the month of February. The draw saw 83 winners from across the Bank’s branch network receive OMR 500 each, together with one winner of OMR 20,000 from one of the branches in the Muscat region as part of the regional draws, and one winner of OMR 20,000 as part of the Monthly Elite Draw.

Commenting on the draw for February, Rashad Al Sheikh; Deputy General Manager of Retail Banking at OAB said, “This month’s draw marks the first of our six regional grand draws where one winner from the selected region will win OMR 20,000. This month’s regional grand draw was focused on the Muscat region while the next, which will take place as part of the April Draw event, will be focused on the Dhakliya region.”

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, alternating between OMR 1,000 and OMR 500 per winner every month, 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.

“On behalf of OAB I would like to congratulate each of the 85 winners of February Hasaad Savings Scheme draw. I would also like to encourage all our customers to continue savings to maximise their chances of winning in the next month’s draw. Furthermore, customers interested in participating in the draws need only open an Hasaad account  and maintain a minimum balance of just OMR 100 in order to be eligible for most of the prize draws,” added Rashad.

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.

OAB Launches Customer Care Campaign

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Appointment of customer care managers at all OAB branches

Muscat, March 21, 2018 – Taking a further step in fulfilling the objectives of their transformation strategy, Oman Arab Bank (OAB) launched a new customer care initiative. The campaign aims to make the Bank one of the leading banks chosen by customers in the Sultanate. To facilitate this strategy, OAB will be appointing a customer care manager in each branch who will be responsible for ensuring that the customers have an enhanced banking experience.

Commenting on the launch of the new campaign, Ahlam Hamed Al Wardi, the Head of the Customer Quality Assurance Department at OAB said, “Over the course of the past four years, OAB has been successful in executing its transformational strategy that aims at positioning the Bank among the top preferred banks by the customers. Keeping in line with this approach, we are introducing a new customer-focused campaign for 2018. This campaign seeks to maintain the relationship between the Bank and its customers, and ensure that they are satisfied with the services provided to them. The campaign will also oversee the assignment of a customer care manager at all our branches. The managers will be in charge of following-up on customer services and on the feedback received, both positive and negative. They will be the medium for a two-way channel of communication between the Bank and its customers. They will be distinguished by a special uniform and nominal card, for easy identification.”

“Additionally, there will be a board near the main entrance of each branch showing contact information to allow customers to share their opinions and suggestions. Customers will be notified within 24 hours when their message has been received and corresponding action will be taken to find solutions to address any issues or queries. We believe that this will increase the quality of services we offer and improve customer satisfaction levels across all OAB branches,” Ahlam Al Wardi added.

The campaign was initiated earlier this year and involved various preparations, including the implementation of workshops for customer care managers and other practical activities, regionally.

Ahlam Al Wardi further noted, “We at OAB are dedicating all our efforts to achieve the goals of the Bank’s transformation strategy, including the “Customer Satisfaction is a Priority” ideal, and we are confident that we will be able to meet the requisite expectations. We are also working on developing plans and programmes, which are customer-oriented, to facilitate a unique banking experience for the Bank’s loyal customers.

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.

ELITE Priority Banking now comes to you

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Digital. Paperless. Instant.

Muscat, March 25, 2018: In an effort to enhance customer convenience and provide a seamless on-boarding experience, Oman Arab bank (OAB) has introduced account opening services at a location that is convenient to its customer.  The experience is digital, and is completely paperless and instant.  The service is deployed on fully secured tablets with digital signature and KYC documents capture.

Commenting on the new service, Fahd Amjad, GM of the Retail Banking Group at OAB said, “Following the launch of our new digital banking platform just over two months ago, the launch of this service marks the beginning of our premium service with personalized financial solutions and lifestyle benefits. The ability for our staff to open customer accounts remotely using tablets will offer unprecedented levels of personal service to those customers who are unable to visit the Banks themselves. Furthermore, we utilise the very latest in security procedures on the devices to ensure that all customer data remains protected at all times.”

“In addition to the convenience of opening an account at a customer’s premises, the new service offers a number of other benefits as well. For starters, all customer details and information is seamlessly and efficiently captured in record time.  Furthermore, and based on the clients profile certain services will be recommended to the client thereby making it easier for the customer to decide what additional products and services they would like to avail leading to a deeper level of engagement with our premium clients,” noted Rashad Jaffar Alshaikh, DGM of the Retail Banking Group at OAB.

OAB 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.

OAB Staff Participate in Earth Hour

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Muscat, March 25, 2018: As part of its commitment towards conservation of the environment, Oman Arab Bank (OAB) commemorated Earth Hour this year by switching off all lights at its head office for one hour on Saturday, March 24. In addition, OAB staff and their families were also invited to a candle-lit event in commemoration of the event and to spread awareness on the need to conserve energy.

Commenting on the Bank’s participation in Earth Hour, Hilal O. Al Siyabi, Head of Corporate Communication said, “There is much more to the Earth Hour than just switching off lights. By hosting such an event, we are not only showing our commitment and support towards protecting our planet, but are also helping spread awareness on the impact wasteful energy consumption has on our environment. However, this year we wanted to take it a step further. This is why we decided to invite our staff, together with their families, to join us in a celebratory candle-lit event at the head office.”

This two-part event comes as part of OAB’s ongoing CSR initiatives, reflecting its commitment toward environment conservation. The Earth Hour event saw the Bank switch off all lights at its Head Office, from 8:30pm to 9:30pm, on March 24. During this time, only candle lights were used for lighting and a live band, who used no electrical equipment or instruments whatsoever, provided the entertainment for the evening.

“As with most of our other initiatives we once again encouraged our staff to participate and make this initiative a success. As such, would like to take this opportunity to thank each of them, as well as their families for their attendance. We sincerely hope that this initiative inspires others to do the same and we ourselves look forward to once again hosting similar initiatives in the future,” added Hilal Al-Siyabi.

In addition, OAB has continued to introduce a number of technology driven initiatives that aim to protect the environment while interacting with its customers including e-statements and SMS notifications among others, in order to save on paper. It also fallows a similar principal for internal communications amongst staff, keeping paper usage to a minimum. The Bank’s focus on environment and energy conservation is also evident in the environmentally friendly technology installed at its Head Office. These include auto sensors throughout all offices and corridors, which means that lights are automatically switched off when no one is present and as a result, a considerable amount of power is saved on a regular basis.

OAB 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.