Rashad Al Shaikh- رشاد الشيخ

OAB Launches “The Power of 50” on the Occasion of the 50th National Day

Muscat, September 20, 2020: Oman Arab Bank recently announced the launch of its new promotional campaign, which takes place from 15th September until 18th November 2020. The campaign commemorates Oman’s 50th National Day and signifies the five decades of the country’s transformation journey, which began under the guidance of the founder of its modern renaissance, the late His Majesty Sultan Qaboos bin Said bin Taimur – may his soul rest in peace, and is continued by His Majesty Sultan Haitham bin Tariq– may the Almighty preserve him – as he leads Oman and all its people towards further growth and prosperity.

As part of the promotional campaign, the first 500 existing customers to refer a friend, acquaintance or family member to open an account at OAB via the OAB Online App will each receive a guaranteed cash prize of OMR 50. The first 500 customers to open an account with OAB and transfer their salary of OMR 500 or more will receive a guaranteed cash prize of OMR 50. In November, every OAB customer will have the opportunity to be a part of a special Hasaad draw for a chance to win one of the 50 prizes of OMR 500 each.

Highlighting the importance of the campaign launch, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB, said, “Oman’s 50th National Day is a significant occasion for all its citizens and marks an incredible milestone for the country. Therefore, we decided to make this occasion even more special and spread happiness to all our valued customers and the people of Oman. Emphasising on our slogan “The Power of 50”, we are extremely proud of all the accomplishments that have taken place throughout the last half-century, and we look forward to being a part of the vision of our wise ruler, who will lead us towards an even brighter future .”

As a part of the campaign, OAB’s Retail Division introduces a new service window on the OAB Online App that simplifies the new account nomination process. Existing customers can submit details of the person they are looking to nominate and the Bank will conduct a follow-up to check whether the nominees is interested in opening an account. Upon approval, the account will be opened, with a cash prize of OMR 50 deposited to the new customer’s account when they transfer their salary, as well as the account of the existing customer.

“Since the 50th National Day marks the golden jubilee of the renaissance of Oman, our campaign was designed to reach out to the widest segment of potential customers, by involving the efforts of our existing customer base. In this way, we can show our gratitude and appreciation to our valued customers for their continuous loyalty and trust over the years. Despite the current challenges, OAB has achieved various milestones in 2020 and I am confident that this campaign will also add to our success, while simultaneously celebrating our nation’s progress.”

OAB has a rich and proud history as one of the first financial institutions established in the Sultanate. Today, the bank operates a nationwide network of 55 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking and corporate banking clients. On July 2020, after the completion of the merger between Oman Arab Bank and Alizz Islamic Bank, the bank has turned into a public joint stock company and its shares were listed on Muscat Securities Market.

Omar Abdulaziz Al Kharusi 1

OAB Introduces New Department for Change and Development

Muscat, September 15, 2020: Oman Arab Bank has announced the establishment of a new change and development department, a move that further positions the Bank at the forefront of the local banking sector. The department will primarily be responsible for overseeing the implementation of OAB’s change and development strategy, which has been undertaken over the last few years. This strategy is based on the Bank’s four main pillars, which focus on innovation, strategic partnerships, talent development, and the continuous improvement of the customer experience.

Commenting on the decision to set up the new department, Adil Al Rahbi, Head of Human Resources Division at OAB, said, “The Bank has made remarkable progress enhancing banking operations over the last years by employing the latest technologies to create new and advanced solutions. This is complemented by our efforts to build an effective and highly qualified team and the provision of a suitable work environment. This, in turn, enables OAB staff to utilise modern practices in project management, ensuring added value when innovative strategic initiatives are implemented. To expand on this objective in the future, a specialised division was established to oversee all developmental efforts across different fields. Our colleague Omar Abdulaziz Al Kharusi, who has over 19 years of experience in project management, has been appointed as the head of this strategic department.”

Omar Al Kharusi holds an MBA from Franklin University in the United States and has a proven record in project delivery and transformation strategies. Embodying strong leadership skills, he has extensive experience in managing people, systems and change management at major local banks.

“OAB’s executive management relies on the Human Resources division to provide other departments with skilled personnel. To achieve this, we rely on a talent management approach that aims at developing and enriching the work environment to enhance its attractiveness, enabling us to attract highly qualified people at the sector level. An example of this is the addition of our colleague Omar Al Kharousi, as one of the young Omani competencies with qualified experience in the banking sector. We wish him success in his new position as the Head of Change and Development Department,” Adil added.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 55 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

OAB Announces Winners of its May Hasaad Savings Draw

OAB Announces Winners of the July Hasaad Savings Draw

Muscat, September 9, 2020: Oman Arab Bank (OAB) has announced the names of 132 winners from its July monthly Hasaad Savings Scheme. This included 95 winners from the monthly branch draws of OMR 500 each, ten winners of OMR 100 from the Children’s Account draw, twenty OMR 100 winners from the Youth Account draw, five winners of OMR 500 from the Bank’s Salary Transfer draw and two winners of OMR 10,000 of the Elite draw from the Muscat branch.

Commenting on the results of the draw, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB said, “We continue to see a rise in the amount of savings from our bank’s customers, especially since the last few months and we are proud to see how the Hasaad scheme has contributed to this culture. It is important that we highlight and promote the need for having savings, which is beneficial for every individual’s financial stability in the long run. We continue to roll out exciting prizes until the end of the year as part of this highly successful scheme, with each month’s draws bringing in even more incredible prizes.”

The Hasaad scheme sees 95 lucky winners, with a minimum of one winner per month per branch, receiving a prize of OMR 500 and OMR 1,000 at the quarterly draws. In addition, ten winners are selected from the Children’s Account holders (aged 18 and below) and receive OMR 100 each. Twenty winners are selected from the Youth Account holders (aged between 18 and 27), each receiving a prize of OMR 100. There also two Elite winners of OMR 10,000 each per month.

The monthly Elite draw is replaced by a Grand Prize draw of OMR 50,000 for one lucky Elite customer, and occurs twice a year, in June and December. Oman Arab Bank also conducts a special ‘Big Prize’ draw of OMR 25,000 for one winner across its expansive branch network at the end of every quarter.

The Salary Transfer draw was introduced in 2020, which sees 5 winners per month receiving a prize of OMR 500 each, as well as a guaranteed gift to both children and youth (up to 27 years old) once a year. Oman Arab Bank is the only Bank providing a guaranteed gift to its youth customers.

“I congratulate all the winners of the July draw and wish everyone else the best of luck in the upcoming months. I hope that all our valued customers will continue to enhance their efforts to save more so that they can increase their chances of winning in the next draw,” Rashad added.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 55 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking and corporate banking.

Hilal Al Siyabi

Oman Arab Bank Launched Online Competition in Support of Local Charities

Muscat, September 06, 2020: To commemorate the International Day of Charity, celebrated on September 5, Oman Arab Bank launched a special competition on its social media platforms for all its followers. The competition aimed at increasing awareness of the need to contribute to charitable foundations and organisations, which in turn will have a positive impact on society.

Commenting on the launch of this competition, Hilal Al Siyabi, Head of Corporate Communications at Oman Arab Bank, said, “We believe that individuals play an integral role in helping out people who are in need. This is why the Bank has tied up with several active charities and charitable associations over the years to instill a culture of giving. With the OAB App customers can easily make donations to their local charity of choice within seconds. This competition reaffirms our efforts to encourage and promote a spirit of charitable contribution among all members of the OAB family.”

To enter the competition, followers will have to answer the question, “How many charities and funds can you donate to via the OAB Online App”. Those who answer correctly will be entered into a draw, with the Bank donating OMR 500 on behalf of the winner to the charity of their choice from those listed on the mobile application.

“Through this competition, we aim to bring people together who believe in the need for carrying out charitable work while simultaneously raising awareness within the community about the importance of donations. We are confident that the response from our customers and social media followers will be a testament to this cause.” Hilal added.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 55 branches and representative offices and 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

OAB Enhances Local Market Presence with Advanced Digital Service

OAB Enhances Local Market Presence with Advanced Digital Service

Muscat, August 31, 2020: Oman Arab Bank continues to enhance its presence in the local banking industry as one of the best-certified e-payment solutions providers. The Bank has heavily invested in building an advanced digital infrastructure, capable of keeping pace with the rapid technological changes that influence the growth of businesses while enriching the digital business environment. Based on this concept, OAB’s advanced e-payment gateway has emerged as one of the best e-channels for digital payments in the Omani market.

Commenting on the features of this innovative technology, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB said, “Our e-payment gateway is the only one in the market that provides direct connectivity for all types of local and international bank cards, in addition to competitive service fees and 24/7 advanced technical support. This single-integration point allows our customers to easily make transactions and accept payments from anywhere in the world. Moreover, our team supervising the gateway is always ready to facilitate the activation process for new customers, and support them in all their banking requirements.”

“Currently, the global market is witnessing rapid developments in the sphere of doing business, with e-commerce emerging as one of the most promising sectors. Due to changes in government services, cash transactions have declined in favour of online payments. This reinforces the need to establish more reliable digital banking solutions that enable real-time payment and seamless cash flow services. This is an extremely useful service for business owners, and especially SMEs, since it prevents payment delays. As one of the most advanced local financial institutions, we see it as our responsibility to provide advanced solutions and accelerate digital transformation in both the public and private sector,” Rashad added.

For several years now Oman Arab Bank has been on the path to promote growth through innovation. Its transformation strategy is based on strategic pillars, the most important being enabling innovation across various business activities. This is possible through the development and implementation of advanced, state-of-the-art technologies. The Bank has proven the effectiveness of its vision by successfully activating new digital channels and solutions during the COVID-19 crisis, generating widespread acclaim. OAB continues to maintain its position as one of the most prominent providers of digital services in the local banking sector.

OAB has a rich and proud history as one of the first financial institutions established in the Sultanate. Today, the bank operates a nationwide network of 55 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking and corporate banking clients.

OAB Announces Winners of its June Hasaad Savings Draw

Muscat, August 25, 2020: Oman Arab Bank (OAB) has announced the names of 132 winners from its June monthly Hasaad Savings Scheme. This included 95 winners from the monthly branch draws of OMR 1,000 each, ten winners of OMR 100 from the Children’s Account draw, twenty OMR 100 winners from the Youth Account draw, five winners of OMR 500 from the Bank’s Salary Transfer draw, one winner of OMR 25,000 from the Big Prize draw at the Al Waqaibah branch and one winner of OMR 50,000 from the Elite Draw at the Al Rustaq branch.

Commenting on the results of the June draw, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB said, “Following the announcement of the Hasaad winners for June, we have completed half of this highly successful scheme that was launched at the beginning of this year. However, we still have several incredible prizes for subsequent draws in the upcoming month. The June draw was very exciting since it included the Big Prize Draw, bringing the total value of cash prizes to OMR 175,500 for the month. The winners of these prizes are our customers who continue to maintain a savings culture, ensuring their financial stability for the future.”

The Hasaad scheme sees 95 lucky winners, with a minimum of one winner per month per branch, receiving a prize of OMR 500 and OMR 1,000 at the quarterly draws. In addition, ten winners are selected from the Children’s Account holders (aged 18 and below) and receive OMR 100 each. Twenty winners are selected from the Youth Account holders (aged between 18 and 27), each receiving a prize of OMR 100. There also two Elite winners of OMR 10,000 each per month.

The monthly Elite draw is replaced by a Grand Prize draw of OMR 50,000 for one lucky Elite customer, and occurs twice a year, in June and December. Oman Arab Bank also conducts a special ‘Big Prize’ draw of OMR 25,000 for one winner across its expansive branch network at the end of every quarter.

The Salary Transfer draw was introduced in 2020, which sees 5 winners per month receiving a prize of OMR 500 each, as well as a guaranteed gift to both children and youth (up to 27 years old) once a year. Oman Arab Bank is the only Bank providing a guaranteed gift to its youth customers.

“I would like to congratulate all the winners of the June draw and look forward to seeing more in the remaining draws for the year. Once again, I encourage all our valued customers to maximise their saving efforts and increase their chances of winning in the months to come,” Rashad added.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 55 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

OAB Opens New Branch in Al Khaborah

OAB Opens New Branch in Al Khaborah

Muscat, August 23, 2020: Oman Arab Bank opened its new branch in the Wilayat Al Khaborah recently. The branch is conveniently located next to the Public Prosecution Office and hosts a large parking area. Opened to reinforce OAB’s strategy, the new branch enhances the customer experience and offers only the best in banking solutions.

Commenting on the opening of the new branch, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB, said, “We are proud to see an increase in customers that joined the Bank from Al Khaborah. The relocation and revamping of this branch are in line with our strategic objective, which focuses on providing our customers with a comprehensive and integrated banking experience that exceeds their expectations, every step of the way.”

The new Al Khaborah branch features an enhanced brand identity, with a refreshed look and feel in line with all other transformed branches. Its contemporary design is accompanied by various exciting features and systems, which have been introduced as part of the Bank’s transformation strategy. Every aspect of the Al Khaborah branch, from the waiting area to the different sections of the branch, are aimed at delivering an exceptional, integrated experience for our customers. Special features such as screens that promote OAB’s latest products and services, private advisory spaces with moving monitors, and digital signature pads and ID card readers, all allow for a more personalised experience at our advisory stations.

Similar to the previous branches, the design inspiration is based on the ‘Omani Skyline’. White for local architecture, brown to signify desert sands and grey for the mountains. Blue glass overhangs complete the look and feel by reflecting the sky. Each distinctive design blends seamlessly, enriching the customer experience and offering an unmatched quality of service.

The new branch also features a dedicated reception desk, Majlis, and RM offices for “Elite” customers to provide them with an exclusive, private and memorable banking experience. The objective is to bring together distinct designs and meet the Bank’s transformational goals, which revolves around enriching customer experience based on the high-level of offered services.

“The Al Khaborah branch will serve our customers from its new location. Access to OAB’s digital banking channels, including the website, mobile app and WhatsApp platform, further allow our customers to choose their preferred option of banking with us, without compromising on the level of services and experience,” Rashad added.

OAB has a rich and proud history as one of the first financial institutions established in the Sultanate. Today, the bank operates a nationwide network of 65 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking and corporate banking clients.

Oman Arab Bank Launches New Communication Platform via WhatsApp

Oman Arab Bank Launches New Credit Card for Frontline Workers

Muscat, August 18, 2020: Showcasing its appreciation for frontline healthcare workers combatting the effects of the Coronavirus pandemic (COVID-19), Oman Arab Bank has announced the launch of an exclusive credit card with 0% interest and annual fees dedicated to those heroes of Oman.

Highlighting the importance of the launch of the credit card, Rashad Al Shaikh, Acting Head of Retail Banking Division at Oman Arab Bank, said, “The Coronavirus has had its toll on a majority of the population in the Sultanate. However, to mitigate its impact, there are several frontline healthcare workers that are performing their duties with dedication, saving lives and ensure everyone’s health and well-being. This new credit card is a unique offering, created specifically for them and providing incredible benefits.”

All government staff in hospitals and healthcare centres can avail this offer, which includes 0% interest, no annual fees, double activation rewards as well as exclusive insurance rates. In addition, Omani healthcare workers will not need to transfer their salary to the Bank, a 1-month salary limit will be applied to the credit card.

“We believe that frontline workers are putting their own lives at risk and that their hard work and determination is admirable. This offer is our way of thanking them for going above and beyond their call of duty in their endeavors to create a better future for the Sultanate and all its residents. They will also have their fees waivered for one year and can make use of our Easy Payment Plans service. On behalf of OAB, I would like to extend an immense thank you to each and every frontline worker for their staunch commitment to overcome these challenging times.” Rashad added.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 55 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

National Talent at the Forefront of OAB’s Growth Plans

National Talent at the Forefront of OAB’s Growth Plans

Muscat, August 17, 2020: Oman Arab Bank is working extensively to enhance the presence of Omanis across all job levels, to enable them to lead the bank’s march during the current period. This is in line with OAB’s efforts to enhance its market share in the local banking sector, by focusing on attracting national talents and developing the capabilities of the team through several carefully-designed programmes.

Adil Al Rahbi, Head of the Human Resources Division, confirms that Omanisation has always been a strategic approach at Oman Arab Bank. Several interim plans have been developed to ensure the highest rates of Omanisation at every job level. This is achieved through the provision of high-level qualification and training programmes, designed by the Human Resources Division, in cooperation with renowned local and international educational and training firms. These programmes target a majority of employees regardless of their job level and allows for a flexible implementation of the Division’s long-term succession plan.

Adil stated, “Our strategy’s initial launch, several years ago, was focused on setting a clear path for the Omanisation process in various job designations, with talent management being identified as one of the four key pillars. Talent management is a relatively new concept in the business management world and includes developing a work environment that is appealing to highly qualified people. Conditions, requirements and adequate funding have to be in place to maintain the workforce and consistently enhance employee knowledge, and to prepare them to take on more influential positions and responsibilities going forward. This strategy, coupled with the succession plan adopted by the Bank, has been highly effective in bringing us to where we are today, proud to have achieved an Omanisation percentage of approximately 96% throughout various levels of the Bank. I believe that this milestone will enrich the bank’s future growth plans due to the presence of a highly-experienced and capable national workforce.”

The talent management strategy of Oman Arab Bank is based on its senior management’s firm belief that the presence of Omani talent is capable of enhancing the sustainable development of the national economy. OAB’s Human Resources Division, in cooperation with several renowned local and international consulting and training firms, adapted this approach through a set of highly efficient training programmes designed specifically to meet the Bank’s need for qualified nationals at the highest levels.

One of the well-known programmes designed and implemented by Oman Arab Bank during the past years is the ‘Leadership Enhancement and Development’ (LEAD) talent programme, catered towards second and third line employees across various departments. LEAD’s aim is to prepare employees to take on greater responsibilities in the future and is conducted over a period of six months, with five training sessions and two specialised workshops each. The programme, which has completed 3 editions so far, has significantly enhanced career development opportunities for participants, reflecting positively on the strategic goal of Omanisation in middle and senior positions at OAB, which are currently at 91% and 90% respectively.

The second programme implemented by the Bank, the ‘Ta’heel’ programme, provided public service employees with opportunities to develop their capabilities and qualify them to take on more specialised tasks. This programme succeeded in transforming the career path of several Bank’s employees across various departments. Oman Arab Bank has a notable and unique career development approach, creating an opportunity for individuals to make qualitative leaps on the career ladder.

“At the Human Resources Division of Oman Arab Bank, we are aware of the responsibility entrusted to us during this pivotal stage in the Bank’s journey, following its merger with Alizz Islamic Bank, the formation of a larger banking entity with independent wings in commercial and Islamic banking, as well as OAB’s listing on the Muscat Securities Market. Therefore, we are continuously enhancing the capabilities of the team and providing them with additional skill sets to allow them to keep pace with the current scenario and work towards achieving the strategic goals for growth that have been set by the OAB management. By empowering the local workforce, we can work towards the success and fulfilment of this major initiative,” Adil added.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 55 branches and representative offices and 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

New appointments at OAB Group

Following the successful integration between the two banks

  • Appointment of Salaam Said Al Shaksy as Chief Integration Officer- OAB
  • Appointment of Suleiman Hamad Al Harthy as Chief Executive officer – Alizz Islamic Bank

Muscat, August 13, 2020: Oman Arab Bank’s (OAB) Board of Directors has announced the appointment of Salaam Said Al Shaksy, former CEO of Alizz Islamic Bank, as the Chief Integration Officer handling all integration related activities at OAB Group. He will report to the OAB Chairman and be responsible for developing new and creative growth opportunities. The Bank also has announced the appointment of Suleiman Hamad Al Harthy as CEO of Alizz Islamic Bank SAOC, as of August 16, 2020.

Commenting on the appointment of Al Shaksy, Rashad Muhammad Al Zubair, Chairman of OAB, said, “Salaam Said Al Shaksy has extensive banking experience inside and outside the Sultanate, and during his role as the CEO of Alizz Islamic Bank was able to record many achievements and win many prestigious awards. Following the success of the merger between Oman Arab Bank and Alizz Islamic Bank, we have chosen Al Shaksy to assume the responsibility of handling all integration related activities between the two banks and exploring new growth opportunities to enhance the group market share. I’m confident that he will be able to achieve more achievements in this regard.”

Commenting on the appointment of Al Harthy as the CEO of Alizz Islamic Bank, Saleh Nasser Al Araimi, Chairman of Alizz Islamic Bank, said, “Suleiman Al Harthy has a rich banking experience, having worked in several conventional and Islamic banking institutions in Oman. He also has the required banking experience and leadership skills that enable him to lead Alizz Islamic Bank successfully. We believe he is the right man for this position.”

Salaam Said Al Shaksy was a member of Oman’s State Council and Deputy Head of its Economic Committee. He embarked on his banking career with Citibank Global Consumer Business, Dubai, UAE, in 1992. He then moved to various executive positions in and outside the Sultanate. Al Shaksy is a graduate of Boston University, USA, where he received a Bachelor’s Degree in Economics (cum laude), a Masters Degree in Management Information Systems (Honors) and an MBA in Management of Financial Services (High Honors). He has also completed the Senior Executive Program at London Business School, UK.

Al Harthy has more than 32 years of experience, during which he held several leadership positions at many local banks and financial institutions. He is a graduate of the Oman Institute of Bankers and holds a Masters Degree in Business Administration in Finance from the University of Leicester in the United Kingdom since 1987. He also graduated from the Harvard Business School Management Program.

Rashad Al Zubair noted, “On behalf of the Oman Arab Bank and Alizz Islamic Bank Board of Directors, I would like to wish Salaam Said Al Shaksy and Suleiman Hamad Al Harthy all the best in assuming their new positions, and leading the Group to the forefront of Omani financial and banking institutions.”

Oman Arab Bank is the principal shareholder of Alizz Islamic Bank, following the completion of the merger between the two banks in July 2020. As a result, Oman Arab Bank has turned into a public joint stock company, with shares listed on the Muscat Securities Market. OAB has a rich and proud history as one of the first financial institutions established in the Sultanate. It has achieved considerable development in providing digital services and solutions to its personal banking and corporate banking clients. Alizz Islamic Bank is also one of the leading Islamic banks in the Sultanate, providing high-quality banking services that are Shariah-compliant. After merging the Al Yusr Islamic Banking window with Alizz Islamic Bank, the Bank’s branches will be 17 branches in total. This enables a greater capacity to finance and meet the financial needs of its clients as well as support the growth of Oman’s national economy.