OAB Awards Third Batch of Employees for Completion of ‘Ta’heal’ Training Programme

/in /by

Muscat, October 30, 2018: As part of its ongoing support and development of human resources, Oman Arab Bank (OAB) has announced the successful completion of the third batch of its ‘Ta’heal’ staff training programme. The programme was designed specifically for the Bank’s service employees. The third edition of this program was launched during the period from September 9 to 13, 2018 and was aimed at qualifying and developing the employee’s skills and capabilities; in turn, helping offer them better opportunities at the Bank in the future.

Commenting on the ‘Ta’heal’ programme, Adil said, “Providing our staff with every possible opportunity for career growth has always been a key point of focus for the Bank. ‘Ta’heal’ is just such a programme that, right from its very inception in August last year, was designed to target service employees, as part of the Bank’s approach in providing career growth opportunities to employees at all levels. It was aimed at providing our employees with the necessary skill sets and knowledge to take their performance to the next level, and ensure that they are keeping pace with all updates in the banking field.”

The programme was focused on several topics such as CASA, problem-solving, and visa cards. It also offers employees a better understanding of their individual role in achieving the goals of the institution, the role of the institution itself in assisting with their development in their areas of work, as well as introducing the principles of internal communication, teamwork, and institutional loyalty.

Oman Arab Bank is proud to have achieved the highest Omanisation percentage within the banking sector, nearing 96%. It is also 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 150 ATMs spread across the Sultanate. OAB also provides a complete range of financial products and services for personal banking, corporate, and investment clients.

OAB Celebrates Omani Women’s Day with Staff

/in /by

Muscat, October 18, 2018: Oman Arab Bank (OAB), in commemoration of the Omani Women’s Day, held a special gathering for its female staff members at its Head Office in Ghubra. As part of the celebrations, the Bank also hosted a detailed talk on breast cancer awareness by a renowned doctor, who also provided the attending female staff members with a free health check-up.

The event, which was held on October 17, saw the attendance of over 250 female staff from the Bank’s Head Office and from branches around the capital. It was inaugurated with a speech by Asma Al Zadjali, the DGM of Credit Administration, followed by a detailed cancer awareness talk by Dr Reem Al Hashar, the Founder and a Board Member of Oman Breast Cancer Society.

Commenting on the important role women play at OAB, Asma Al Zadjali said, “We, at OAB, are fully committed to the important role female employees play in every aspect of banking, right from the most junior members of our staff to our senior-most management; of which women make up a considerable percentage. If anything, this reaffirms the important role women play in building the future of our bank as a leading financial institution within the local banking sector.”

The event concluded with a commemorative cake cutting ceremony in honour of all women working at the Bank. Additionally, all attendees were encouraged to undergo a free check-up, conducted by Dr Reem, who had a corner dedicated for this purpose at the event.

“On behalf of Oman Arab Bank, I would like to congratulate and thank each and every member of our staff, as well as all women in Oman, for their contribution towards the prosperity of our beloved country,” added Asma.

Empowering women and promoting gender diversity has always been one of the core values of the Bank. The Management strongly believes that everyone at the Bank, regardless of gender, deserve an equal opportunity at professional growth by virtue of their professional performance and talent. As a result, several women have made impressive strides in all aspects of their jobs, with many already holding positions of authority within their respective departments.

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 57 branches and 8 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 Opens Financial Souq in Salalah

/in /by

Muscat, October 08, 2018: Highlighting its commitment to offer the best financial solutions and customer experiences across the Sultanate, Oman Arab Bank (OAB) has announced the opening of its newly relocated flagship branch in Salalah. The new customer-focused branch is conveniently located at the Salalah Commercial Centre, and is the first of its kind ‘Financial Souq’ in the region, with U-capital and National life housed in the same building. It will deliver the highest levels of convenience and enhanced banking facilities to the Bank’s customers in Salalah.

The branch opening took place on October 03 and was held under the auspices of HE Sheikh Salim bin Oufiet Al Shanfari. The event was attended by Rashad bin Mohammad Al Zubair, the Chairman of OAB, together with Rashad Al Musafir, CEO of OAB, and 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 bin Mohammad Al Zubair said, “Over the course of the past five years, OAB has been successful in executing its transformational strategy that aims at positioning the Bank among the top preferred banks by the customers. Our ongoing branch transformations across the country are a part of this strategy, one that is aimed at providing our customers with a unique banking experience focused on convenience, comfort, fast response times, efficiency, and optimal use of the very latest in banking technology. These new transformed branches are thoroughly unique and unlike anything found elsewhere in Oman.”

“This event marked the second transformed branch that we have opened this year, the first being the Sur branch that we opened a few months back. As with the other branches that have undergone this change, this revamped flagship Salalah Branch features our new design philosophy, with beautiful yet subtle colours and a stylish modern design. It also features the very best in technology and products, together with personalised levels of service, generous size, spacious layout, and a large parking area. That being said, this is the very first branch that has been designed as a ‘Financial Souq’ with several features and facilities never before seen in any of our branches to date. As a result, this new branch will elevate the banking experience for our customers in Salalah to an entirely new level,” added Rashad Al Musafir.

As with the previous relocated branches, the new Salalah branch features OAB’s 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, and the one launched in Sur earlier this year. 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 Salalah branch, however, is amongst the largest branch transformation projects OAB has undertaken and is also a first of its kind of ‘Financial Souq’ with U-capital and National life soon to be housed in the same building. The main branch area has six tellers and 11 customer care advisories with a seating capacity of 80 customers. It has a dedicated Corporate Services area, with capacity for three relationship managers and eight back-end staff, together with a corporate lounge area.

Commenting on the upgraded Elite facilities at the new Salalah Branch, Al Musafir said, “With the Salalah Branch we are elevating our elite services to an entirely new level. To begin with, the branch features a dedicated ‘Elite’ section with two Majlis with a total capacity of 25 customers. The ‘Elite’ section also has a dedicated coffee-lounge with restaurant-style seating, three RM Offices, and a 20-seat Elite Board Room. There is even a dedicated basement parking area for Elite customers, with a VIP lift that leads directly to the ‘Elite’ section. Together these features will provide the Bank’s VIP customers with a one-of-a-kind elegant and private experience that remains memorable.”

Lastly, the branch also has a multi-purpose space for training, entertainment, and future expansion purposes. As a result of all these changes, the branch transformation combines elements of design, form, and function and aims to elevate the customer experience as a whole resulting in better service. Furthermore, U-capital and National life will soon be opening their doors to customers in the same building, completing the Salalah branch’s transformation into a one-of-a-kind ‘Financial Souq’ in the region.

“This marks the third of a series of branches we plan on transforming and opening this year across the country. As one of our flagship branches, the new Salalah branch is amongst the largest in the country; helping us transform the banking experiences of our customers in Salalah. Given the size and capabilities of the branch, I am confident that the new branch will not just meet, but exceed our customer’s expectations; taking us one step closer to our ultimate goal of being their bank of choice in the country,” added Al Musafir.

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 AND ALIZZ ISLAMIC BANK SIGN MOU TO CONTINUE MERGER DIALOGUE

/in /by
  • HH Sayed Taimur A. Al Said: Alizz Islamic Bank will continue its banking operations as an independent Islamic banking institution further strengthening its capital and overall balance sheet
  • Rashad Al Zubair: The merger project will allow for the formation of a stronger financial entity capable of contributing effectively in the development of the sector

Muscat, 7th October 2018: Oman Arab Bank (OAB) and Alizz Islamic Bank announced the signing of a Memorandum of Understanding (MoU) to continue the dialogue between them concerning the intended merger between the two parties. This was done following obtaining initial approvals from the Capital Market Authority (CMA) and the Central Bank of Oman (CBO). The Memorandum sets out a broad framework for the merger process, wherein Alizz Islamic Bank will continue to operate as an independent Islamic banking institution under the supervision of an independent management team, but operating under the umbrella of the newly merged entity. Furthermore, it will continue to operate under Shari’a compliant banking principles, under the guidance of the Shari’a Supervisory Board, and in line with the standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and local regulatory authorities.

The memorandum also encompassed an agreement between both parties to appoint legal and financial advisors to conduct due diligence reviews of both entities; paving the way for the proposed merger.

The memorandum was signed by Saleh bin Nasser Al Araimi, a member of the Board of Directors of Alizz Islamic Bank, and The Honourable Salaam bin Said Al Shaksy, the CEO, on behalf of Alizz Islamic Bank, and was signed by Abdulaziz Al Balushi, a member of the OAB Board of Directors, and Rashad Ali Al Musafir, the CEO, on behalf of Oman Arab Bank. The ceremony was held at OAB’s Head Office in the presence of other senior executives from both institutions.

Commenting on the occasion, HH Sayyid Taimur A. Al Said, Chairman of Alizz Islamic Bank said, “Since the announcement of the planned merger in May, both banks have made good progress towards developing a mutually beneficial framework for the intended merger. This is with the objective of bringing together the best talents from OAB and Alizz Islamic Bank to create a market-leading Islamic bank that will continue its operations as an independent Islamic banking institution.”

Remarking on the signing of the agreement, Rashad Al Zubair, Chairman of the Board of Directors of OAB said, “The success of the merger between the two institutions will result in the formation of a new financial entity that will be more competitive, both locally and regionally, and will be in a position to promote the development of the financial sector in the Sultanate in line with the latest international standards. The proposed merger will offer a number of synergies as the banks currently have complementary products, systems, technologies, and customer segments.”

The merger process began at the end of May when OAB approached Alizz Islamic Bank for talks on the possibility of entering into a strategic partnership that could lead to a possible merger between the two institutions down the road; a proposal which was subsequently accepted by Alizz Islamic Bank. The signing of this MoU is yet another step in this ongoing process.

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 58 branches and representative offices, together with seven Islamic banking windows, operating under the ‘Al Yusr’ name, spread across the country; namely the Muscat Governorate (Athaiba and Wattayya), and in Salalah, Nizwa, Falaj al-Qabail, Ibra, and Al-Buraimi. The bank also operates a network 148 ATMs spread across the Sultanate.

Alizz Islamic Bank is one of the first full-fledged Islamic banks in Oman. The Bank offers customers an enriching banking experience designed for today’s modern world. The Bank has focused its investments on human capital and world-class technology to ensure the delivery of exceptional, responsive customer service. Alizz Islamic Bank operates ten branches across the Sultanate and continues to reinforce its position as Oman’s most dynamic and innovative Islamic banking institution. It does so by developing a plethora of Shari’a-compliant banking products and services that meet all the financial needs of both corporate and retail customers.