Qurum Branch

OAB Opens Flagship Qurum Branch

New flagship branch prominently located at Burj Al Amal and open from 8 am to 4pm

Muscat, October 18, 2017: Oman Arab bank (OAB) has officially opened their new flagship branch located in Qurum. The new branch has been relocated from its previous location at Al Araimi complex to a more prominent and easily accessible location at Burj Al Amal in Qurum. With the opening of the customer centric branch, OAB aims to deliver enhanced banking facilities in the greater Qurum area, offering efficient and readily accessible services from the new flagship premises.

The official opening took place on October 16, under the auspices of His Excellency Dr. Abdullah bin Mohammed Al Sa’eedi, the Minister of Legal Affairs, and was attended by Amin Al Husseini, CEO of Oman Arab Bank, and Rashad Al Musafir, DCEO of Oman Arab Bank; together with other members of the Bank’s staff.

Commenting on the launch of the branch, Amin Al Husseini noted, “The new Qurum branch is accorded flagship status due to its generous size and spacious layout and is one of the first ‘next generation’ branches to be rolled out in Oman. The branch features the very best in technology, products, and most importantly – personal service – that we as a bank are proud to offer. As a result, this new branch will elevate the banking experience for our customers which is a key priority in our nationwide transformation strategy.

The new Qurum branch features an enhanced brand identity with a refreshed look and feel. The sleek, modern, and streamlined look is augmented by a number of features and systems introduced as part of these new transformed branches. For starters, the branch has seen the introduction of a meet and greet facility with a streamlined queuing system, video walls for bank news, private advisory spaces with moving monitor screens for a more personal interaction, together with digital signature pads and ID Card readers within the advisory station design.

Aesthetically, as with the other ‘new’ branches, the new Qurum branch takes its design inspiration 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 new 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.

“As one of our flagship branches, the new Qurum branch will be amongst our largest in the country, and helps serve our growing customer base in the capital. It also further reaffirms our commitment to our customers to deliver a range of fast and efficient banking solutions that will set new standards for consumer banking in the Sultanate,” added Rashad Al Shaikh, DGM of Retail Banking at Oman Arab Bank.

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 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 Women's Day Celebration

OAB Celebrates Omani Women’s Day with Staff Gathering

Launches commemorative ‘Wamadhat’ book

Muscat, October 17, 2017: 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 unveiled a special commemorative book titled ‘Wamadhat’, the content of which was contributed by all female staff members working at the Bank.

Commenting on the event, which was held on October 17, Hilal Al Siyabi, Head of Corporate Social Responsibility of OAB said, “Empowering women and promoting gender diversity has always been one of the core values of the Bank. We strongly believe 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. They have clearly demonstrated their indispensability to the success of the Bank’s operations and are a vital part of the OAB family.”

Wamadhat that was launched on the day is a commemorative book specially done for Omani Women’s Day. It is a compilation of quotes and sayings that have personally served as a source of inspiration and guidance to each of women currently working at OAB.

“With this book we wanted to showcase the thoughts and beliefs that our female staff live by and have guided them in their ongoing professional journey. It also provides a deeper insight into the people that they look up to and who have served as an inspiration to them in their professional careers,” Hilal added.

The commemorative event concluded with a commemorative cake cutting ceremony in honour of all women working at the Bank.

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.

Adil Al Rahbi - web

OAB Appoints New Head of HR

Muscat, 09 October, 2017 | Oman Arab Bank (OAB) have announced the appointment of Mr. Adil bin Ali Al Rahbi as the new Head of the Human Resources (HR) Division. In his new role, Adil will oversee all strategic HR functions at the Bank in accordance with international best practice. These functions will include talent acquisition and retention, human capital planning, ongoing training programmes, digital learning, organisational culture, and professional development.

Commenting on the appointment, Mr. Amin Al Husseini, CEO of OAB said, “We believe in the skills and capabilities of our national workforce; skills that qualify them to hold senior positions in the Bank. It is through their efforts, and the efforts of everyone within the Bank that we continue to move OAB closer to its ultimate goal of becoming the number one bank of choice for employees and Omani professionals. We value and invest in our staff, in turn ensuring that we provide a consistently high level of service that meets the expectations of our valued customers.”

“On behalf of the management and staff at OAB, I wish Adil Al Rahbi the best of luck for his new position. I am confident that his experience of over 27 years in the fields of staff management and training, will enable us to further enhance the HR capabilities at the Bank; ensuring that our staff benefit from world-class professional development and organisational excellence,” added Amin Al Husseini.

Adil Al Rahbi has over 27 years of experience in his field and began working with OAB in February 2015 as the Head of Employee and Organisational Development. He cooperated with the team in order to create a paradigm shift in the role human resources plays; establishing it as a strategic partner in achieving bank targets and managing the change in order to ensure continuous development of the staff. He joined the bank with a long track record of experience, having worked with numerous organizations spanning several sectors. He began his career as the Head of Training at a governmental body. Following which, he moved to Qatar taking up a position as the Administrative Services Manager in one of the biggest international companies in the country. He then returned to Oman joining the private sector for eight years.

Al Rahbi holds MSc in Human Resource Management and Training from the University of Leicester, UK. He also holds a Post Graduate Diploma in Maritime Management from Australia and a Diploma in Police Sciences from the Sultan Qaboos Academy for Police Sciences.

This assignment comes as part of the Bank’s strategy in the field of developing human resources and providing the best possible opportunities towards career progression. This was clearly reflected in the number of young staff that recently qualified and were assigned to senior positions in various departments and fields within the Bank, following their enrolment in the ‘Qiyada’ program. This strategy will be promoted to include all job categories by designing training programs and workshops that satisfy their functional needs. To this end, several new projects and initiatives were launched; including the likes of the ‘Masar’ electronic performance management system and the Competency Matrix project for all jobs. A further reflection of the Bank’s commitment towards providing opportunities for career growth amongst all job categories, it launched the ‘Ta’heel’ program for developing the skills of employees, among other programs.

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.

Sulaiman Al Hinai (web)

OAB Appoints New Head of Treasury, Investment and Government Relations

Muscat, September 17, 2017: Oman Arab Bank has announced the appointment of Sulaiman Ali Al Hinai as GM- Head of Treasury, Investment and Government Relations. As a result of this appointment, the Government Banking Services Department will be reporting to Mr. Al Hinai to maximise the efficiency of the two functions; given the business overlap in managing the relationships in the public and government sectors.

Commenting on his appointment, Amin Al Husseini, Chief Executive Officer of OAB said, “On behalf of the management and staff at OAB, I would like to wish Sulaiman the best of luck in his new role. I am confident, his excellent relationships with a wide network of government entities and his specialised expertise in Treasury and Investment management will enable us to develop our business further.”

Sulaiman Al Hinai is a treasury professional with regional expertise and experience spanning twenty three years in commercial banking and treasury with various local and regional banks including, Doha Bank, Qatar; Oman International Bank, Muscat; and Ahli Bank SAOG, Oman. Commenting on his appointment into the new role, Sulaiman said, “I’m extremely pleased to take up my new role as the helm of the Treasury, Investment, and Government Relations at OAB. Together with the talented team already present in each of these departments, I look forward to building on their strong foundation, while maintaining the high standards of customer service and business excellence expected of OAB.”

“The employment of highly qualified Nationals has always been one of the core aspects of our operational strategies at OAB. Furthermore, we strive to open every avenue of growth for our employees within the organisation, facilitating this with regular and comprehensive training workshops and skill development programs,” added Amin.

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 152 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.

Al Yusr Sponsorship

Al Yusr Sponsors First Ever Salalah International Forum on Islamic Finance

Muscat, August 27, 2017: As part of its commitment towards supporting the development of Islamic Finance in the Sultanate, Al Yusr – Oman Arab Bank’s (OAB) Islamic Banking Window, recently sponsored the first ever Salalah International Forum on Islamic Finance (SIFIF2017). The event, organised by the College of Banking and Financial Studies in collaboration with Tawafaq Consultancy, focused on the discussion of practical challenges in Islamic Finance and proposed mechanisms to increase its effectiveness and economic development.

Commenting on the Bank’s sponsorship of the event, Rashad Ali Al Musafir, the Deputy CEO of Oman Arab Bank said, “We at OAB and Al Yusr are honoured to have sponsored the inaugural Salalah International Forum on Islamic Finance. The event was extremely well organised and proved to be an ideal platform on which to engage key decision makers, organisations, and banks, in sharing their knowledge and expertise in order to drive the Islamic Finance forward in the Sultanate. The forum facilitated rich discussions and I am confident that the outcome will further strengthen the industry and give it the necessary boost it requires to take it to the next level.”

The forum, which took place from August 20 to 24 at the Salalah Rotana Resort, was held under the patronage of HE Sayyed Mohammed bin Sultan Al-Busaidi, Minister of State and Governor of Dhofar. The opening ceremony was also attended by HE Hamood bin Sanjour Al Zadjali, the Executive President of the Central Bank of Oman, together with several central bank governors from neighbouring GCC countries as well as executive heads of various banks and Islamic banking partners in the Gulf, and Islamic Finance Institutes. Representing Al Yusr at the event were Rashad Ali Al Musafir, Deputy CEO and Dr. Khalifa Al-Ghammari, General Manager of Al Yusr Islamic Banking. The opening ceremony concluded with the honouring of all sponsors, including Al Yusr, with a token of appreciation on behalf of the organisers.

The five-day event was split into two primary parts. The first was a two-day forum which took place on August 20 and 21, covering four key sessions titled ‘Unifying the Fatwa in Islamic Finance’, ‘Islamic Finance and Economic Development’, ‘Takaful Insurance and Re-insurance’, and ‘Legislations and Settlement of Financial Islamic Disputes’, followed by the presentation of scientific papers and a panel discussion. The two-day forum was followed by three workshops; one each per day starting from August 22 and ending on August 24. Each detailed workshop covered one key topic of interest – ‘Sukook’ on the first day, followed by ‘Takaful Insurance and Re-insurance’ and ‘Settlement of Financial Islamic Disputes’ on the second and third day respectively.

“The event was a great success with attendees appreciating the insightfulness of each topic discussed and the overall professionalism with which the forum was organised. We are truly pleased to have sponsored an event of this calibre and commend the organisers for a job well done. I am confident that the resolutions discussed at this forum will pave the way for a sustainable and prosperous future for Islamic finance in the Sultanate,” added Dr. Khalifa.

Al Yusr is the Islamic window of OAB. Established in 2013, the Islamic banking window provides services via seven branches; two in the Muscat Governorate (Athaiba and Wattaya), and others in Salalah, Nizwa, Falaj al-Qabail, Ibra and Al-Buraimi. Al Yusr customers also have access to 152 OAB ATM’s located across Oman. Al Yusr Islamic Banking provides its retail and corporate customers as well as investors’ a wide range of shari’ah compliant products and services.

Hassad July

OAB CONDUCTS HASSAD SAVINGS SCHEME DRAW FOR JULY AT SALALAH GARDENS MALL

Muscat, August 22, 2017 – Oman Arab Bank (OAB) recently held its seventh monthly draw of this year’s ‘Hassad’ Savings Scheme live at the Salalah Gardens Mall. The draw event was held under the auspices of Khalid Ahmed Al Rawahi, director general of manpower in Dhofar Governorate, and was attended by Ahmed Al Kharusi, Head of Regional Management and Branches Support department of the Bank together with other senior members of the Bank’s Retail Department. Totaling 100 winners, the draw, which was focused on the Dhofar region for the month of July, saw 23 winners from each of the Bank’s four branches located in Dhofar receive OMR 1,000 each together with a further 30 winners from across the Bank’s branch network receiving OMR 500 each and ten winners of the OMR 250 for the Bank’s child account holders. The draw also saw one customers from the Dhofar region win the Bumper Draw of OMR 25,000, as well as an Elite Draw winner of OMR 25,000. In addition, the Bank also held a special Khareef draw where 35 winners received OMR 300 each.

Fahd Amjed, GM of Retail Banking at OAB said, “With the Khareef season now in full swing in Dhofar, we felt that hosting our Region-focused Hassad Saving Scheme Draws in Dhofar would be a perfect fit. Better still, we also held a special Khareef draw to complement the festivities.”

The draw event, which was held at the Salalah Gardens Mall, saw a number of fun activities being held for children including face painting, games, contests, and even dedicated drawing areas. There were also some special prize draws conducted for attendees of the event.

“With this, our draw for July, we have passed the half way mark of our Hassad Savings Scheme for 2017. There are still hundreds of cash prizes to be won however. So on behalf of OAB, I would like to first congratulate each of the 100 winners of our ‘Hassad’ savings scheme draw for the month of July; and also wish all our customers the best of luck for the remainder of the draws will continue until the end of 2017,” added Fahd.

The Hassad savings scheme for 2017 ensures customers from every region and branch have an equal opportunity to win, with OAB conducting prize draws every month alternating between regions and nationwide draws. Each of the draw will ensure a minimum of two winners of OMR 1,000 per branch in that respective region, together with multiple winners of OMR 500 across all branches and one Bumper draw of OMR 25,000 per month. OAB customers need only open a ‘Hassad’ account with a minimum balance of OMR 100, in order to be eligible for these prize draws. The Bank will also be conducting region and nationwide draws for children’s accounts with 10 winners of OMR 250 per month.

Oman Arab Bank’s banking proposition ‘Elite’ for High Net worth customers will also benefit from the revised Hassad scheme. Elite customers will now be participating in a dedicated monthly draws with a prize pot of OMR 25,000 monthly, and the upcoming year-end prize draw in December of OMR 50,000.

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 152 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.

OAB Online Launch

OAB Launches New Mobile App and Unveils Unified Digital Banking Platform

Muscat, August 09, 2017: Oman Arab Bank (OAB), at a recent press conference, launched its new unified digital banking platform with an all-new simplified interface used across all digital channels including Internet, ATM, and the new Mobile Banking Application. Following the launch of the new platform, the Bank also announced the launch of its new mobile banking application, which uses the same innovative icon-based design, offering the Bank’s customers an exceptional banking experience.

Commenting on the launch event, Amin Al Husseini, the CEO at Oman Arab Bank noted, “Elevating the customer experience is a key objective and our new unified digital banking platform represents a significant advance in ease-of-use and convenience. In order to ensure the customer experience delivered is best-in-class, our digital banking team have incorporated the very latest digital developments, while maintaining a firm focus on usability and an easy-to-use cross-platform interface.”

“We seek to position OAB as a financial institution that delivers an enhanced customer experience across all touchpoints; either in our branch, via phone banking or online. We are proud to announce the launch of our comprehensive range digital banking services with a new, unified design. This was designed with the aim of offering customers an advanced, yet easy to use, online banking experience regardless of platform and is clearly reflected in the innovative design and interface we use across each of our three digital channels,” Al Husseini added.

OAB’s new digital banking platform offers customers a unique banking experience thanks to its innovative icon-based design. Moreover, the Bank’s customers can now benefit from accessing comprehensive services not just at ATMs and on their computers, but also on their mobile phones and tablets at their convenience. As a unified platform, the Bank’s customers will utilise the same interface when conducting their electronic banking transactions. They will also be able to access their OAB accounts through any platform using the same verified user information, while having their preferences and beneficiaries for transactions and bill payments remain the same.

The new OAB Mobile Phone Application ‘OAB Online’, which is now available for iOS and Android users, is the latest and most comprehensive update of the Bank’s digital banking channels, and together with the unified digital banking platform, is also one of most significant innovations by the Bank to date.

“The new digital banking platform utilises the same icons and processes, which offers customers the same experience regardless of which channel they use. This simplified approach will make each of our digital banking services much more accessible to our customers, allowing them to simply switch between them at their convenience. The launch of the new mobile application, for iPhone and Android users, rounds off the trifecta of digital banking channels at the Bank, offering customers a comprehensive online banking experience,” Al Husseini noted.

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 152 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.

06-08-17 Al Yusr Holds the Second SSB Meeting  (2)

Al Yusr Holds the Second Shari’ah Supervisory Board Meeting for 2017

Muscat, August 06, 2017: Al Yusr, the Islamic Banking Window of Oman Arab Bank (OAB), recently held its second Shari’ah Supervisory Board meeting for the year 2017. The meeting, held at the Al Yusr Administrative Office in Al Ghoubra, was attended by Dr. Essam al Enezi, chairman of the Al Yusr Shari’ah Supervisory Board, Dr. Ahmad Ayyadi, Dr. Abdulaziz Al Qassar and Dr. Khalifah bin Ahmed Al Ghammari, General Manager of the Al Yusr Islamic Banking Window. The meeting reviewed the most important activities and works related to the Shari’ah Supervisory Board achieved during the second quarter of the current year. The board reviewed reports issued by the Internal Shari’ah Supervisory Department of the Islamic Window, including the Shari’ah auditing and compliance reports as well as the most important banking jurisprudential issues faced by the Islamic Banking Window during the same period.
Commenting on the importance of such meetings, Dr. Khalifah Al Ghammari, said, “This meeting is the second for Al Yusr this year as part of our regular meetings held by the Shari’ah Supervisory Board and are held in response to the regulatory and legislative requirements of the Central Bank of Oman. The meeting reviewed and discussed the most important activities and works achieved during the second quarter of 2017 in order to ensure the effective functioning of Al Yusr in accordance with the requirements stipulated in the regulatory framework for Islamic Banking services. The Shari’ah Supervisory Board assists Al Yusr in providing the best Shari’ah compliant products and services, therefore, I would like to thank all the Board members’ for their continued support in providing quality services and products that are in line with the principles of Islamic Banking.”
The members of the Board expressed their appreciation for the efforts of Al Yusr and its employees in creating Shari’ah compliant banking products that meet the needs of all customers, individuals, and institutions. The Board also praised the remarkable growth in efficiency of the Internal Shari’ah Department and the quality of services offered. This significant development had a direct impact in raising the level of trust and awareness of the community in Islamic Banking, which will contribute to the growth of market share for Islamic Banking in the Sultanate.
Al Yusr is the Islamic window of OAB. Established in 2013, the Islamic banking window provides services via seven branches; two in the Muscat Governorate (Athaiba and Wattaya), and others in Salalah, Nizwa, Falaj al-Qabail, Ibra and Al-Buraimi. Al Yusr customers also have access to 148 OAB ATM’s located across Oman. Al Yusr Islamic Banking provides its retail and corporate customers as well as investors’ a wide range of shari’ah compliant products and services.

OAB OUE Partnership (web)

OAB Partners with OUE for Affordable Remittances

Muscat, July 30, 2017: Oman Arab Bank (OAB), one of the first banks to be established in the Sultanate, recently signed a new partnership with Oman United Exchange Company (OUE) to make it even more convenient for customers to transfer remittances abroad for lower services fees. The signing ceremony for the partnership was held at Oman Arab Bank head office. Representing OAB at the ceremony was Rashad Al Shaikh, DGM Retail Banking, while Mr. Syed Faraz Ahmed, General Manager represented the exchange company.

The partnership will enable OAB customers to make International Transfers to India, Pakistan, Sri Lanka, Bangladesh, Philippines, and Egypt, at a discounted rate of just OMR 1.500 at any OUE location by using their debit cards at the POS machines installed at each outlet. Furthermore, all POS charges at the branches will be waived for OAB customers.

Commenting on the new partnership Rashad Al Shaikh said, “Our collaboration with OUE allows us to forge a mutually beneficial strategic partnership between our two institutions. It is also in-line with the strategy of the Bank in aiming to reach out to a broader client base; offering them flexible, innovative, and cost effective financial solutions specially designed to cater to their specific needs.”

“As with OAB, we are always on the lookout for opportunities to make our services readily available to a broader spectrum of our customer base, while at the same time making our services even more affordable. This partnership has enabled us achieve exactly this, allowing us to offer bank transfers to the most commonly used countries at a rate unmatched by the market,” added Mr. Syed Faraz Ahmed  the General Manager of OUE.

“The ability to transfer money directly from POS machines located at OUE sites at special rates exclusive to our customers will offer them great value. It will also provide them with total peace-of-mind by not having them worry about withdrawing or carrying large sums of cash from location to location. As such, I am confident this partnership will be a value addition to the services offered by both OAB and OUE,” concluded Rashad.

Additional information can also be obtained at each of the seven OUE branches; located in Ruwi, Salalah, Ghubra, Sohar, Salalah Industrial Area, Barka, and Duqm.

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 56 branches and offices and over 135 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.

Blood donation (web)

OAB Organizes Staff Blood Donation Drive

Muscat, July 30, 2017:  As part of its commitment to community, Oman Arab Bank (OAB) organised an internal Staff Blood Donation Drive at its head office on July 17. The event was organised by the Social Committee of OAB in collaboration with the Ministry of Health and saw a good number of OAB employees volunteer to donate blood.

Commenting on the Blood Donation Drive, Hilal O. Al Siyabi, Head of CSR at OAB said, “At OAB we believe that we have a responsibility towards the local community, which has to be expressed through both our values and actions. This Blood Donation Drive is a clear reflection of this ideology; one that is aimed at raising awareness on the importance of blood donation, as well as providing an avenue through which our staff can donate; especially for those whose otherwise tight schedules would not allow them to participate.”

“Many do not realise the importance of blood donations and the fact that a single unit of blood donated can save multiple people’s lives. Furthermore, the need is constant for a healthy and reliable blood supply. As such, on behalf of OAB, I would like to thank each and every employee who donated blood on the day as well as the staff at the Ministry of Health and members of our Social Committee who helped in hosting such a successful event,” added Hilal.

OAB is engaged in various initiatives, such as this Blood donation drive, throughout the year; each of which is intended to enhance the social wellbeing of the community in which it operates. Some of these social projects involve direct support from its employees, through invaluable work done by the Social Committee at OAB.

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 over 150 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.