OAB Appoints New Head of Innovation

Muscat, September 26, 2018: Oman Arab Bank (OAB) has announced the appointment of Leen Al Atassi as the Head of Innovation at the Bank. In this newly established position, Leen will lead the Banks efforts in introducing innovative new ideas and initiatives that drive continuous improvement across the bank.

Commenting on the appointment of Leen, Rashad Al Musafir, the CEO of OAB said, “OAB has always been committed to attracting and developing local talent and unlocking their full potential. We always take a long-term view and aim to build the right capabilities amongst the staff that allows us to achieve a competitive edge in everything we do, as well as continue to innovate to deliver a consistently superior customer experience. Furthermore, the Bank has, over the past few years, focused on introducing innovative ideas and technologies across every facet of its operation. This is something we wish to expand on and take to the next level in the future. With that objective in mind, I am confident that Leen will be a valuable asset to the organisation in this newly established position and will help spearhead our efforts towards establishing OAB as a forerunner for innovating banking solutions in the financial sector of the Sultanate.”

Holding an MBA degree from the University of Strathclyde, a Bachelors of Arts degree in Psychology with a minor in Communications, and with a career spanning over 12 years across various financial institutions in the Sultanate, Leen Al Atassi brings with her vast levels of experience and expertise to support OAB in accelerating its strategic objectives. She has a proven record of introducing innovative strategic communication strategies, change management, and internal culture initiatives that have strengthened the brands and contributed towards the growth of organisations she has previously worked for.

Commenting on her appointment into the new role, Leen said, “I am extremely grateful to OAB for providing me with this opportunity and I am pleased to take up my new role as the Head of Innovation. I look forward to working closely with the team here at OAB to introduce new and innovative initiatives that will strengthen our core competencies and grow our business. In doing so, we aim to set ourselves apart from the competition whilst continuing to maintain the highest standards of customer service and business excellence that OAB is known for.”

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 Hasaad Savings Scheme August Draw

Muscat, September 26, 2018: Oman Arab Bank (OAB) recently conducted its Hasaad draw for the month of August, at its Head Office. The draw saw 83 winners from across the Bank’s branch network receiving OMR 500 each, together with one winner of OMR 20,000 as part of the Monthly Elite Draw and another of OMR 20,000 as part of Regional Draw covering the Bank’s branches in Dhofar.

Commenting on the draw for July, Rashad Al Sheikh, Deputy General Manager of Retail Banking at OAB said, “With the August draw now done, we have one more draw left before we move into the final quarter of the Hasaad Savings Scheme for 2018. That being said, there are still hundreds of prizes yet to be won, providing even more opportunities for our customers to be rewarded for their savings.”

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 month in between.

“On behalf of OAB I would like to congratulate each of the winners of the August Hasaad Savings Scheme draw; as well as encourage our other customers to continue saving so as to maximise their chances of winning in the upcoming 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 Receives Customer Excellence Award for Outstanding Security Practices

Muscat, September 12, 2018: Oman Arab Bank (OAB) was recently presented with the Customer Excellence Award for Outstanding Security Practices. The ceremony organised by the Bank, saw Trend Micro representatives handing out the award and certificates at the OAB Head Office.

Commenting on this honour, Ghulam Basheer, Head of the IT Security Department at OAB said, “Being a financial institution, security has always been our top priority. Businesses are subjected to all kinds of security threats and vandalism. Therefore, information which is considered to be the ‘life blood’ of businesses require extensive protection. Our partner, Trend Micro, are the leaders in the security domain and we have had the pleasure of teaming up as a strategic partner in this journey.”

OAB’s partnership with Trend Micro for a cyber-security solution with its innovative and modern technology offers simple, and highly secure facilities and is governed by a set of internationally renowned safety standards for the transmission of data.

The Customer Excellence Award for Outstanding Security Practices recognises companies that are have shown prowess at handling classified information with integrity, discretion and proven reliability, while also signifying outstanding achievement in matters related exclusively to the organisation’s security protocols.

Fabio Picoli, Trend Micro Country Manager notes, “Information has currently become the most strategic asset, representing competitive advantage and driving operational excellence. With the spread of several advances in the form of mobile, social, and cloud technologies, the protection of information has become even more challenging. OAB has strived to maintain an innovative outlook in safeguarding its customers’ information and on behalf of Trend Micro, I would like to congratulate them on this great achievement.”

Trend Micro, a global leader in security software and solutions, seeks to make the world secure for the exchange of digital information. Over the course of 25 years, it has been inspired to protect individuals, families, businesses, and governments as they seek to harness the potential of emerging technologies and new means of sharing information.

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.

Oman Arab Bank Appoints Rashad Al Musafir as CEO

  • Rashad Al Zubair: We are fully confident in the capability of Rashad Al Musafir to achieve the Bank’s objectives going ahead

Muscat, September 3rd, 2018: The Board of Directors of Oman Arab Bank (OAB) announced yesterday the appointment of Rashad Ali Al Musafir in the position of the Chief Executive Officer (CEO) as of September 02, 2018.

Al Musafir joined OAB in 2016 as the Deputy CEO and later, in February 2018, was appointed as the Acting CEO, replacing the former CEO, Amin Al Husseini; who subsequently took on the role of the Bank’s Advisor.

During his time at OAB, Al Musafir has been involved in several initiatives and development plans to modernise operations. These were an extension of the Bank’s ongoing transformation strategy launched in 2014, with the aim of strengthening the Bank’s position as a preferred Bank amongst its customers in the Sultanate. Over the past four years, the Bank has undergone dramatic changes that shifted its focus from being a conventional bank primarily concerned with corporate clients and financing projects, to a leading retail bank that services individuals, companies, and investors alike. It even undertook a long-term vision towards employing modern technologies across every facet of its operations. As a result, it is today one of the most sophisticated and technologically advanced local banks in the country.

Commenting on the new appointment, Rashad Al Zubair said, “We are confident in the ability of Rashad Al Musafir to lead the executive management team of the Bank. Our decision comes as part of our continued endeavour towards empowering talented Omanis to take up senior management positions within the Bank. This is also the result of great efforts put in by the Bank in training and developing national talent and fostering their professional growth. On behalf of the Board of Directors, I would like to congratulate Mr. Al Musafir on his new position and wish him all the best in achieving the Bank’s objectives. I would also like to take this opportunity to thank Amin Al Husseini, the former CEO of OAB, for his hard work and the great effort he has put in over the past five years towards moving the Bank to a sustained transformation. I would also like to thank him for his efforts in implementing the executive transition and succession plan that the board had confirmed two years ago.’’

Thanking the Board of Directors, Al Musafir said, “I fully appreciate the confidence the Board has shown in my ability to lead this world-class banking institution. I am convinced of the tremendous potential of the Bank’s staff and I will work hard towards channelling their talent towards helping strengthen the Bank’s presence as a leading Omani banking institution. I would like encourage each one of them to work together as a single unified team and make a collective effort towards ensuring the success of this endeavour.”

Al Musafir holds a Bachelor’s degree in Finance from Boston University in the United States of America. He has also studied Business Management at Harvard University and has over 20 years of experience in banking and financial institutions. He started his career as a Statistical Data Analyst in the Central Bank of Oman in 1997. Over the next two decades, he held a number of senior positions in leading financial institutions, with his most recent being the Acting CEO of Bank Sohar. The above appointment is subject to the necessary regulatory approvals.

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.