Visa agreement


Muscat, 3rd January 2017: Oman Arab Bank (OAB) has joined hands with Visa, the global payments technology company, in a strategic partnership agreement that will convert the Bank’s current electron cards to secure chip-and-PIN debit cards. Under the agreement, OAB customers will be able to utilize their cards equipped with the EMV chip-and-pin technology to ensure all payments are made conveniently and securely at millions of merchants around the world.

Speaking on the occasion Mr. Fahd Amjad, GM Retail Banking said, “As a leading bank in Oman, our focus has consistently been to enhance customer experience by providing a wide range of innovative solutions and services. Our long-standing relationship with Visa goes back a decade. Our collaboration this time will result in the first contactless Visa debit card in Oman, secured by EMV chip and PIN technology of global standards. We are proud that once again through innovation we will create value for our customers. The new EMV enabled cards will be perfectly compatible with our newly introduced ATM software, making our digital offering stronger than ever before.”

Commenting on the partnership, Ahmed Gaber, Visa General Manager for Oman, Kingdom of Saudi Arabia, Kuwait, and Bahrain said, “With the use of electronic payments accelerating in Oman, it is essential that consumers have the tools to shop safely and securely with their cards. EMV Chip and PIN cards help to protect both the consumer and the merchant by adding an extra layer of security to a transaction while keeping the payment process quick and simple. Visa is delighted to work with OAB to roll-out the technology and to help bring additional peace of mind to its customers.”

Building on a successful legacy established since 1984, OAB today operates more than 65 branches and offices and over 135 ATMs in high footfall locations across the Sultanate. With its growing portfolio of services and banking solutions, OAB has strongly engaged with the local, regional and international community to promote the Sultanate as an economic trade and investment powerhouse.

Civil Affairs

Ministry of Civil Service Honours Oman Arab Bank

Muscat, 28 December 2016 – Oman Arab Bank (“OAB”) has been recently honored for having contributed to the success of the project of hands-on training provided to civil servants from various units of the state’s administrative apparatus at private sector organizations (the “Project”), which is implemented by the Ministry of Civil Service. OAB was particularly honored during the official opening ceremony of the Project, which was held by the Ministry of Civil Service on 21 December 2017 under the patronage of HE. Sheikh Khalid bin Omar Al-Marhoon, Minister of Civil Service at Grand Hyatt Muscat Hotel.

Commenting on this occasion, Adil bin Ali Al Rahbi, [Head of Employee & Organizational Development] at OAB commended the Ministry of Civil Service’s efforts to reinforce co-operation between both public and private sectors in the area of human resources training and development. Al-Rahbi added that such initiatives directly contribute to an exchange and transfer of knowledge and expertise between the employees of both sectors; help identify the best administrative practices and learn about the state-of-the-art systems implemented at various organizations. He said that OAB had hosted in 2016 a group of civil servants from various units of the state’s administrative apparatus to join on-the-job training in different disciplines that serve the nature of their job, each within the scope of his/her competence.

It is noteworthy that OAB signed a Memorandum of Co-operation with the Ministry of Civil Service in June 2015, which Memorandum aims at reinforcing exchange of expertise and good administrative practices so as to improve the performance of human resources; consulting to develop common programs and action plans relating to administrative development; laying down such principles and standards as may be necessary for boosting the performance quality at the level of administrative units and institutions; and co-operating in implementing the on-the-job training project.

OAB Retirees


Muscat, December 26th, 2016: In recognition of their dedicated years of service, Oman Arab Bank (OAB) honored 51 long-term and retired employees with a special ceremony at the Hormuz Grand Hotel in Muscat. Led by the CEO of OAB, Amin Al Husseini, the Bank paid tribute to the commitment of the honorees and praised their years of success by presenting them with certificates and commemorative gifts.

Speaking at the ceremony, Amin Al Husseini said, “It is the hard work and commitment of our long standing employees that has contributed to preserving and advancing OAB’s legacy of trust and success. We believe that high-performing organizations are built by ambitious employees and I would like to take this opportunity to thank those employees for their commitment to making OAB one of the leading banks in the Sultanate.”

One of the honorees at the ceremony, Ali Al Lawati; Head of IT Administration commented, “

OAB has always invested in the professional and personal development of its workforce and has, as a result, progressed leaps and bounds since its establishment. I have grown from strength to strength in my career and commend OAB for fostering a positive work environment which will only bring them more success over the coming years.”

Regarded as one of Oman’s employers of choice, OAB has a longstanding tradition of acknowledging and celebrating the dedication of its staff. The Bank’s commitment to its workforce has helped spearhead its incredible growth over the years, which has seen OAB rise to operate more than 65 branches and offices in addition to over 135 ATMs in high footfall locations across the Sultanate.

OAB Sandhurst LEAD Group


Muscat, 18 December 2016 – In conclusion of Oman Arab Bank’s (OAB) ‘Leadership Enhancement and Development’ (LEAD) program, two high-achieving groups were selected to undertake training and present their projects related to strengthening the Bank’s strategies at the Royal Military Academy Sandhurst in the UK. LEAD is facilitated by IDG which has a relationship with Sandhurst that goes beyond sharing the Academy’s inspiring surroundings; but also shares an approach to leadership development and incorporates this in all of their leadership models. The six month program comprising of four modules had a total of 20 participants who went through a series of capacity-building leadership and management trainings designed to utilize best practices and provide managerial expertise and high-level workplace solutions.

Attending the final presentations at Sandhurst, CEO of OAB Amin Al Husseini said, “It is a remarkable achievement for these participants to be presenting their work at the renowned Royal Military Academy Sandhurst. At OAB, we have a strong culture of fostering the talent of our employees with the aim to not only develop their professional careers but also invest in their personal development. With the success of our LEAD initiative, we are even more deeply motivated towards our aim to prepare future leaders of the Banking and Finance Industry who will strongly contribute to the Sultanate’s national workforce.”

The LEAD program was designed and facilitated in cooperation with Inspirational Development Group (IDG), a global leadership and management performance consultancy. With the first three modules covering topics like development of leadership styles, self-awareness and strategic management, the final module highlighted areas such as strategic leadership and problem analysis as personal development planning including ways to self-measure progress and improve personal accountability.

Highly regarded for its standards of military training, the Royal Military Academy Sandhurst has been home to generations of royal families globally who have undergone training at the British Army’s initial officer training centre. At the Academy, the teams visited the ‘Qaboos Pavilion’ which is founded by His Majesty Sultan Qaboos for sports and recreational activities and toured Westminster Hall which connects the House of Lords and House of Commons. The delegates also had the chance to meet with Sir Jock Stirrup, a Senior Royal Air Force Commando and former Chief of Defense Staff before commencing their training the following day.


Ubhar Capital (“U-Capital”) acquires Investment Management Group in Oman Arab Bank

Muscat, 20th December 2016: In March 2016, Oman Investment Fund (OIF), Oman International Development and Investment Company (OMINVEST) and Arab Bank (Switzerland) (ABS) entered into a Memorandum of Understanding (MOU) to acquire Oman Arab Bank’s (OAB) Investment Management Group business. Over the past two decades, Investment Management Group has been a leading name in the investment sector. In Oman, Investment Management Group is one of the largest asset managers and a leading stock broker. It has executed some of the most notable corporate finance deals including initial public offerings (IPO’s), debt placements and other advisory mandates.

OIF, OMINVEST and ABS recently established Ubhar Capital SAOC (U-Capital), which is envisioned to become Oman’s leading independent investment banking platform. We are pleased to announce that on (insert date), U-Capital agreed to acquire Investment Management Group. The acquisition will encompass the entire existing Investment Management Group platform,including systems, human resources, licenses, assets and liabilities. We are also pleased to announce that U-Capital has been granted Regulatory Approvals to acquire Investment Management Group from OAB. The new Shareholders will provide significant strategic support to U-Capital to further develop and build its underlying lines of business, which encompass: investment banking, asset management, brokerage and custody services. U-Capital will commence business operations in January 2017.

Sheikh Hassan Al Nabhani, Chief Executive Officer of Oman Investment Fund, stated that acquisition of Investment Management Group is a major step towards realising their vision of creating a premier asset management company out of Oman – with global reach and capabilities. He expects U-Capital to cater to the investment needs of major institutional investors, while operating as a platform for attracting foreign investments into Oman. Sheikh Hassan elaborated that OIF is highly supportive of such platform acquisitions to create larger and more efficient businesses, creating economies of scale and realising synergies amongst our major portfolio companies. He added that U-Capital will focus on developing local human capital and create a pool of professional investment banking professionals.

Wahbe Tamari, Chairman of Arab Bank (Switzerland), said that ABS is pleased to enter into this transaction with OIF and OMINVEST. He added that ABS will provide support to U-Capital in building a world class institution catering to a broad base of regional and international customers. Tamari said he is excited about the prospects of working in Oman and contributing to the economic development of Oman.

Rashad Al Zubair, Chairman of Oman Arab Bank, said they are pleased that Investment Management Group has been a leading player in the investment banking sector in Oman and has been instrumental in Oman’s economic development over the past two decades. He stated that they are excited that U-Capital has long term sustainable growth plans for the company. OAB will now focus on its core strengths of building world class leading bank in Oman. Mr. Al Zubair made a special mention to the conducive investments and regulatory operating environment in Oman.

Abdulaziz Al Balushi, Group CEO of OMINVEST said they are proud to be a shareholder in U-Capital and very pleased to acquire Investment Management Group, a well-managed business with a strong track record. He added that Investment Management Group’s business will flourish under U-Capital and the Shareholders will lend all the support to make it a remarkable success by offering much better products and services to the clients.

Amin Al Husseini, OAB’s Chief Executive Officer said that the sale of Investment Management Group has been a concerted effort by the entire OAB management team and part of the overall strategy of the bank to augment its position in the Bank’s other business verticals. Al Husseini further added that the sale will significantly strengthen the Bank’s financial position and the proceeds will be utilized to finance core strategic initiatives. Al Husseini further thanked both the Central Bank of Oman and Capital Market Authority for creating a conducive investment environment and for their continued support.
Lo’ai Bataineh, who will be heading U-Capital and who has headed Investment Management Group since its inception, is confident of the bright future of U-Capital with its expanded scope.

Mr. Bataineh added that he and his team have been in touch with their clients throughout the transition. All clients can be rest assured that there will be no impact on their services and mandates and that their transition from Investment Management Group to U-capital will be smooth and seamless. He stated that the envisioned business expansion, new resources and capabilities are expected to make U-Capital one of the largest and best-equipped investment banking companies in Oman. Therefore, the customers of Investment Management Group and new clients will greatly benefit from a wider array of products and enhanced services offered by U-Capital.



Muscat, 7th December 2016: Continuing its support for Tanfeedh, the National Programme for Enhancing Economic Diversification, Oman Arab Bank participated in the Programme’s Open Day. During this key stage of the national initiative, the culmination of recommendations generated for boosting economic growth were shared with the public.

“We are proud to have been given the opportunity partner with Tanfeedh and support its mandate to facilitate international trade and investment, and shed light on the role we look to play in expediting infrastructure and construction projects,” remarked OAB CEO Amin Al Husseini. “Understanding the extraordinary significance of enterprise to the Sultanate’s future economic success, OAB, through its diverse portfolio of commercial financial solutions, is well positioned to support and contribute to the growth of business in Oman.”

The CEO went on to explain that as OAB looks ahead to playing its part in Oman’s future development, it is building on a strong heritage of trust. Indeed, for over thirty years, OAB has worked diligently to help secure Oman’s robust economic foundations. Contributing to national development and social progress, the Bank has financed major ventures in areas including hydrocarbons, transport, logistics, energy, and health. In addition, OAB has developed financial solutions to support both fledgling and established businesses, as they not only work towards their goals and achieve their ambitions but also generate employment and yield substantial benefit for the country.

OAB - First Town Hall Meeting


Muscat, 3rd December 2016: Oman Arab Bank held its first town hall meeting open to all staff members at the Shangri-La Barr Al Jissah Resort and Spa. Lead by Amin Al Husseini, CEO of OAB, the meeting highlighted the Bank’s achievements throughout the year and shed light on its development plans for 2017.

At the event, Amin Al Husseini welcomed the attendees by congratulating them on another successful year and thanked them for their contribution to the Bank’s growth. He then touched upon the various milestones achieved by the Bank during the year and discussed the Bank’s direction going forward for the next year and business strategies to ensure consistent progress.

Speaking further on the development of the Bank, Amin Al Husseini said, “Oman Arab Bank has grown leaps and bounds in the past few years and the growth in our revenue and portfolio of services is only an indication of the level of progress that is yet to come. Our history of success established over the last three decades has been possible due to the strong support of our loyal customers and the skills and expertise of our employees and moving forward, it is important for us to continue investing in our strengths and work towards our aim of becoming the leading Bank in the Sultanate.”

Also present at the event, Deputy CEO of OAB Rashad bin Ali Al-Musafir remarked, “Our strategy for the next year entails advancing our customer service to the next level and expanding our present portfolio of banking services and solutions. We are also looking to introduce several more trainings to augment the expertise of our national workforce which will further strengthen the operations of the Bank and increase our contribution towards the economy of the Sultanate.”

The event also highlighted the various services OAB introduced to its customers this year as well as some new products scheduled to be launched soon. The employees were shown a demonstrative on the latest technologies being implemented that will empower customers with easier and more efficient banking solutions.

National Day


Muscat, 19th November 2016: Joining the nation in celebrating Oman’s 46th National Day, Oman Arab Bank held a special event at its Ghubrah Head Office to honor His Majesty Sultan Qaboos bin Said for his remarkable vision for the country. The event was steered by the Deputy CEO of Oman Arab Bank, Rashad Al Musafir and was attended by members of the senior management and staff members.

Speaking at the event, Rashad Al Musafir said, “We at OAB congratulate His Majesty and the people of Oman on this momentous milestone. The exemplary leadership showcased by His Majesty has always reflected in Oman’s strong economic position, both regionally and globally. A leader well known for his love and commitment towards the well-being of his people, His Majesty has always encouraged growth and development amongst national talent and worked towards strengthening Oman’s core sectors.”

He added, “Oman boasts a strong and expanding banking and finance sector and with a robust legacy of trust built over three decades, OAB is proud to contribute to the national development and progress of the country. Keeping in line with His Majesty’s dedication to the people of Oman, we are always encouraging and fostering national talent by providing our employees with all the tools and skills they need to become leaders in the field of banking and finance.”

Brightly decorated in the national colors of red, green and white, the office festivities included students performing poetry about their love for the Nation and its achievements.

Established in 1984 following the acquisition of Arab Bank’s branches in the Sultanate, OAB today operates more than 65 branches and offices, and over 135 ATMs in high footfall locations across the Sultanate that are supported by Arab Bank’s 600 branches spanning five continents. With its growing portfolio of services and banking solutions, OAB has strongly engaged with the local, regional and international community to promote the Sultanate as an economic trade and investment powerhouse.



Muscat, 16 November 2016 – As part of its continued efforts to reward customers for saving, Oman Arab Bank (OAB) distributed OMR 60,000 to the 16 lucky winners of its Monthly and Omani Women’s Day Hassad Savings Scheme Draws. Launched in January 2016 to encourage a culture of saving, the Bank has since rewarded 121 people with more than OMR 600,000 in cash prizes.

For October’s Monthly Draw, K.M.A. Al Mashani from the Governorate of Dhofar scooped the OMR 40,000 Regional prize. Five female account holders and five young savers also received OMR 1,500 and OMR 1,000 respectively.

Hanaa Al Hinai, Assistant General Manager, Head of Wealth Management, Bancassurance and Liabilities at OAB, said, “Hassad was developed based on the desire to reward our customers and provide them with an incentive to save so that they can enjoy more financially secure lifestyles. As a result, more than 100 people across the Sultanate have had their dreams fulfilled. The feedback we have received from customers has been exceptional and we look forward to rewarding many other lucky winners in the near future.”

“Every year, as a token of our appreciation, OAB holds draws to commemorate occasions such as Omani Women’s Day. This year, in celebration of the growing role of women in the Sultanate, Rahma Marzouq, Ahlam Zayid, Khazina Ali, Haouria Bilal, and Walaa Khair were awarded OMR 1,500 each through our lucky draw.”

With Hassad’s Savings Scheme, all OAB customers with a minimum balance of OMR 100 at the end of the month are automatically entered into the draw. With the year coming to a close, OAB has lined up a number of exciting opportunities for customers to win big, with more than OMR 300,000 in cash prizes still up for grabs. Alongside two more monthly draws, the Bank will celebrate the 46th National Day with a special draw, in addition to its second Elite Draw in December, and a super draw at the end of the year where two customers will be chosen to win OMR 100,000.



Muscat, November 8th 2016 – Al Yusr Islamic Banking, the Shari’a Compliant window of Oman Arab Bank held its third Shari’a Supervisory Board meeting for the year in its management offices in Al Athaiba. The meeting, led by Dr. Essam Al-Enezi, Chairman of Al Yusr Shari’a Supervisory Board, met to discuss and update some of its manuals and policies that will strengthen the Bank’s offering by providing additional value added services.

During the meeting, the Board also highlighted the importance of independency of Islamic banking in business to avoid commingling between Islamic and conventional banking and maintain the reputation of such amenities. In order to achieve this, the Shari’a Board updated its Shari’a relevant policies and manuals as well as its risk assessment methodology to enable the Bank to enhance the Shari’a audit function and improve existing services.

Said Abu Assoud, Head of Al Yusr Islamic Banking said, “It is important for us to assess and upgrad our policies to ensure that needs of our customers are matched with the most efficient services. We are grateful to the Sharia Supervisory Board for their continuous support in guiding Al Yusr to compete effectively with market competition and deliver the right services and benefits.”

The meeting was attended by Board Members Dr. Ahmad Ayyadi and Dr. Abdulaziz Al-Qassar as well as Al Yusr Management, Abdul Qader Al-Balushi, General Manager of Islamic Banking, Said Abu Assoud, Head of Al Yusr Islamic Banking Operations, and Dr. Muhammad Iman Sastra Mihajat, Internal Sharia Reviewer.