OAB App Allows Customers to Remotely Donate to MoH Account

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Muscat, April 9, 2020: As part of its endeavours to facilitate donations and contributions to the Ministry of Health to support its efforts in fighting the Novel Coronavirus (COVID-19), Oman Arab Bank has announced the update of its mobile application to allow its customers to donate directly to the donation and support account for MoH, with the Bank.

Commenting on this update, Rashad Al Shaikh, Acting Head of Retail Banking Division said, “We are looking into different possible ways to facilitate the donation process for MoH for our valued customers. Therefore, we have worked on updating the OAB app to include the option of donating directly from their phones to the MoH account with the Bank. We have also facilitated the ATMs and CDMs to include the same service, as well as the Bank’s website.”

“In line with the directives of the Supreme Committee to encourage social distancing and reduce the movement of citizens and residents to a minimum, we have initiated this opportunity to donate remotely through the app because we believe that there are several people who wish to donate, but are instead committed to staying at home due to the current situation. OAB believes that this service will witness a huge turnout from all our valued customers,” Rasha added.

OAB has recently launched a dedicated account on ‘500-500500-3160’ to support the efforts of the Ministry of Health against the Novel Coronavirus (COVID-19) and has also donated OMR 500,000 to this account.

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 65 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 Celebrates Earth Hour

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Muscat, March 31, 2020: Despite the current circumstances imposed by the global pandemic Novel Coronavirus (Covid-19), Oman Arab Bank (OAB) participated in the Earth Hour event to send a message of solidarity to protect the environment through the optimum utilisation of natural resources. This is to enhance the efforts of maintaining sustainability for future generations.

Hilal Al Siyabi, Head of Corporate Communication said, “For several years we have organised a special event on this occasion to encourage the largest number of people, including families and children, to support the objective of the Earth Hour initiative by switching off all unnecessary electrical sources for an hour. This year due to the current health condition caused by the Coronavirus, we were unable to organise this event on-ground, but instead, we continued to commit to the initiative by switching off all the lights in the Bank’s main building Saturday night, March 28.”

As part of its celebrations of Earth Hour, Oman Arab Bank launched a competition on its social media pages by asking a very important question to its followers on the most important lessons learned from the Coronavirus pandemic, concerning the relationship between humanity and the environment. The competition saw an immense interaction from the followers, wherein they shared their thoughts on what they gathered from this awakening experience, which comprised of the topics of having humanity rethink its concept of building a balanced and sustainable relationship with nature. At the end of the competition, the two best answers received prizes from OAB.

“Our participation in the Earth Hour is in line with the Bank’s strategic approach, launched earlier this year, which highlights our strategy to promote sustainability. This focuses on our three main pillars; community support, financial inclusion, as well as protecting the environment, with the recent event falling in the last category.”

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 65 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 Launches Dedicated Account to Support MoH Efforts against Coronavirus

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Muscat, March 29, 2020: Oman Arab Bank (OAB) has announced the opening of a dedicated account to support the efforts of the Ministry of Health (MoH) against the Novel Coronavirus (Covid-19). The Bank also announced that it will donate OMR 500,000 to the account.

Rashad Al Musafir, CEO of OAB said, “The launch of this initiative is in line with the directives of His Majesty Sultan Haitham bin Tariq – may the Almighty protect and preserve him – to support the efforts of the government in achieving the objective of cooperation between everyone in the face of this global pandemic, and also stems from our belief that what we face today, require all of us to stand together as one. Moreover, we also believe that everything that the health staff has done until today is truly a heroic act and that everyone should support them to enable them to perform their duties to the fullest. Therefore, OAB initiated the opening of the donation account for the MoH to support them in their efforts against the Coronavirus, and it was our responsibility to donate to this account as part of our efforts to support the country. I am confident that all our customers, employees, the Omani people and residents will each contribute according to the best of their ability to achieve the goal of this initiative.”

From his side, Sulaiman Al Hinai, Head of Treasury, Investment & Government Relations said, “Bank customers who wish to contribute can donate to the account electronically from their phones using the OAB application while non-customers can transfer the amounts they wish to donate from any of the local banks to this account.”

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 65 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 Holds ICAEW CFAB Training for Employees

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Muscat, March 17, 2020: Oman Arab Bank (OAB) employees took part in one of the Institute of Chartered Accountants in England and Wales (ICAEW) training programmes, Certificate in Finance, Accounting and Business (ICAEW CFAB). This was conducted in-line with the Bank’s talent management strategy to further enhance the talents of its workforce.

Highlighting the importance of the training, Adil Al Rahbi, Head of the Human Resources Division at OAB said, “OAB is dedicated to continuously enhancing the skills and talents of all its employees. By taking part in this training course, we aim to ensure all employees can excel in their future career prospects.”

The ICAEW CFAB is an internationally recognised certificate that teaches the essential knowledge in business, finance and accounting, while also helping individuals in non-finance departments have a basic understanding of budgets, controlling costs, and how to measure performance and provide a general understanding on how businesses function. This brings advantages to OAB as it allows employees to work towards the shared goal of an efficient and innovative workforce, which is reflected in the products and services delivered to customers.

“By providing Omani nationals with access to internationally recognised qualifications and training such as ICAEW CFAB, we are further reinforcing our commitment to Omanisation. With the underlying aim to become one of the leading banks in the Sultanate to employ and develop local talent, this also ensures the future success of our country and the creation of future industry leaders,” Adil added.

Partaking in such training initiatives, OAB is also developing Oman’s knowledge-based economy by providing staff with the required skills to help accelerate their contribution to Oman’s 2040 economic vision. By attracting the best local talent aiding this will create a high-performing and innovative organisational culture offering unique benefits to the Bank’s employees, customers and the wider community. Moreover, this is also in accordance with OAB’s objective to become a more customer-centric bank.

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 65 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 Launches first-of-its-kind Innovation Lab in the Sultanate

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  • The Innovation Lab will serve as a Launchpad for innovative solutions that will enhance customers’ experience, develop the local Fintech ecosystem, promote local talent and accelerate employees’ career journeys.

Muscat, March 15 2020: Oman Arab Bank (OAB) announced today the launch of the first-of-its-kind Innovation Lab in the banking sector at a press conference. The event was held with Rashad Al Musafir, CEO of OAB and other members of the Bank’s Executive Management in attendance.

Commenting on the launch of the Innovation Lab, Rashad Al Musafir said “We are extremely proud to be creating a facility that further supports His Majesty’s vision and Oman’s national agenda to drive innovative thinking, develop local talent and promote entrepreneurship. The design of the Innovation Lab was inspired by two of the best innovation labs in the world, Barclay’s Rise Lab in London, UK, and the Harvard Innovation Lab in Massachusetts, US. The Innovation Lab will host a myriad of opportunities by providing access to one-to-one mentoring, specialised workshops, and industry experts for local students, OAB staff and local, regional, and international Fintech companies.”

The Innovation Lab occupies a floor at the OAB Headquarters and is aimed at driving innovative thinking in a collaborative space and further develop Oman’s knowledge-based economy. This ideology was also reinforced in the royal speech of His Majesty Haitham bin Tariq, when addressing the people of Oman, wherein he said, “Our government will follow up progress in various sectors, including small and medium enterprises, and entrepreneurship, particularly those based on innovation, artificial intelligence, and advanced technology. This is in addition to training and enabling youth to benefit from the opportunities made available in this vital sector, so that it could form a cornerstone in the national economy.” The development of the Innovation Lab is aimed at empowering local talent and entrepreneurs to become viable contributors to the evolution of Oman’s economy through the power of innovation and the spirit of collaboration.

As part of its transformational journey, OAB began the development of various innovative products in line with its efforts to become a more customer-centric bank. The launch of the largest hackathon in the banking industry, the Innovation Hub, was organised last year and it became one of the most distinctive events in Oman. The event in 2019 brought together over 350 participating individuals, far exceeding the initial goal of 200. The initiative encompasses several activities prior to the competition’s date to ensure adequate preparation for all participants. These include roadshows for students across all universities and colleges in the Sultanate and training workshops for both student and staff teams run by the Bank at the Head Office, where participants were provided with a brief introduction to Open Banking, ideation and design thinking workshops, developing proof of concepts, presentation skills and much more.

Leen Al Atassi, Head of Innovation at OAB, commented, “The Innovation Hub was created to encourage innovative thinking and further develop our knowledge-based economy by empowering local fintech companies and professionals, students and our OAB employees to contribute to the evolution of the banking sector. We spent the last few months putting together a spectacular programme designed to accelerate innovation across the industry and chart the future, to unleash the power of Open Banking and create new customers experiences, revenue models and industry ecosystems. However, given the current situation surrounding the spread of the Novel Coronavirus (COVID-19), and following the decision that was made by the Ministry of Health regarding the postponement of events in the Sultanate due to public health measures, the Innovation Hub 2.0 has been re-scheduled and a new date will be communicated in due course. The OAB management holds health and safety at the highest priority and strives to ensure the well-being of everyone.”

“Nevertheless, all registered participants will automatically be registered for the upcoming event, without having to go through the registration process again. This will provide participants, with more time to prepare their ideas, seek guidance and advice, further allowing the event to be more inclusive with an exciting line-up of speakers and activities, and making it even bigger and better for everyone involved,” Leen 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 65 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 Announces Winners of the New Hasaad Savings Scheme 2020

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Muscat, March 11, 2020: Oman Arab Bank recently revealed the names of the winners of its newly launched Hasaad draw. This draw saw over 140 winners being announced, as well as the introduction of a new draw category and guaranteed gifting scheme. 2020 will see the largest number of winners ever for OAB’s Hasaad Savings Scheme, totalling over 1,796 winners before it comes to an end with the December draw.

Commenting on the introduction of the 2020 Hassad Scheme, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB said, “With the launch of the new Hassad Savings Scheme, we have designed it in such a way that it offers our customers more chances of winning. This is mainly due to the success of last year’s scheme, which saw a larger pool of winners across a wider range of draws. We hope that the Hasaad Savings Scheme continues to inculcate the importance of a saving culture, not only among individuals and families but for the young generation as well. We believe that this will assist them in building a more stable financial future for themselves and those around them.”

As a part of the scheme, 95 lucky winners, with a minimum of one winner in each branch, will receive a prize of OMR 500 monthly, reaching OMR 1,000 each quarter. There will be 10 winners of OMR 100 each for the Children’s account holders, aged 18 and below; 20 winners of OMR 100 each for Youth account holders, aged between 18 and 27 and two winners of OMR 10,000 each as part of the monthly Elite Draw. The latter Elite draw, however, will see its monthly draw replaced by a Grand Prize draw of OMR 50,000 for one lucky Elite customer, which will occur twice a year, in June and December. In addition to these monthly draws, the Bank will also be conducting a special ‘Big Prize’ draw of OMR 25,000 for one winner across its branch network at the end of every quarter.

A new introduction this year is the Salary Transfer draw, which provides 5 winners with a prize of OMR 500 each month, as well as a guaranteed gift to children and youth (up to 27 years old), once a year, respectively. Moreover, OAB is the only Bank that will be providing a guaranteed gift to its youth customers.

“Through this new scheme, we are looking forward to seeing the largest number of winners accumulated by the end of the year. With several prizes lined up, I encourage each and every one of our valued customers to continue saving to maximise their chances of winning. I wish them all the very best of luck,” 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 65 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 Appoints New Acting Head of Retail Banking Division

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Muscat, February 16, 2020: Oman Arab Bank (OAB) has appointed Rashad Al Shaikh as the new Acting Head of Retail Banking Division, as of January 16, 2020. This new initiative is in line with the Bank’s strategy to apply a qualitative strategic approach to Omanisation through a succession plan that aims to develop promising talents in various disciplines.

Commenting on the appointment, Rashad Al Musafir, the CEO of OAB said, “OAB is dedicated to supporting Omani employees by developing their skills and experiences with the aim of providing better career development through strategic plans that are in line with the various banking disciplines. This step is also in accordance with the strategic approach of developing local talents that aim to enhance OAB’s objectives of providing customers with the best possible experiences and services.”

Rashad Al Shaikh holds a B.S. in Business Administration from Central Florida University, Orlando, USA. With over 21 years of experience in banking, and serving a number of senior positions in Retail Banking before joining OAB in 2003. This brings advantages for both OAB and its customers, providing the Bank with experience and innovative ideas to further excel in their ongoing success.

Commenting on the promotion, Rashad stated, “I am delighted to be appointed this new role and I look forward to working with all departments and ensuring the continued success at OAB. I believe this will be best achieved through our various efforts to become an innovative, customer-centric bank.”

Adil Al Rahbi, Head of Human Resources Department, said, “The Human Resources Department at OAB is always keen to recognise individual local talents and support them in the realisation of their career objectives, alongside the provision of support and motivation. We believe that managing talent in an effective way is one of the most important strategic pillars of success. Through this approach, we strive to make Oman Arab Bank the ideal destination for anyone looking for a promising career journey.”

“The Bank’s management policy focuses on the principle of providing persistent and distinguished employees with the opportunity to advance in the career ladder. We conduct several programmes that are designed to prepare them for supervisory and administrative leadership positions,” Al Rahbi added.

This recent appointment is a result of the succession plans that are focused on by the Human Resources Department, which assesses the readiness of Omani staff to carry out greater and more diverse responsibilities through their enrollment in leadership programmes. The programmes are implemented by international experts and also focuses on the development of skills and practical knowledge. Apart from the succession plan, there are also specific strategies and other programmes that focus on providing all employees at all levels within the Bank with the opportunity to further enrich and develop their proficiency and skillsets, to further enhance their career prospects and become future leaders in the banking sector. Moreover, OAB’s talent management strategy aims to apply a qualitative strategic approach to Omanisation, while simultaneously maintaining a diverse and efficient workplace.

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 65 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 Lauded as Best Retail Bank in Oman at Banker Middle East Awards

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  • OAB won the Best Retail Banking Services and Best Banking Services awards

Muscat, February 11, 2020: Oman Arab Bank (OAB) was recognised for its outstanding banking services with two prestigious accolades at the Banker Middle East Awards. OAB received the ‘Best Retail Banking Services’ (Oman) and ‘Best Banking Services’ (Oman) awards for 2019 for its innovation initiatives, digital banking and high-level customer services. Rashad Al Musafir, CEO of OAB and Adil Al Rahbi, Head of the Human Resources Department at OAB, received the accolades on behalf of OAB.

Commenting on the awards, Rashad Al Musafir said “OAB is honoured to have received these two outstanding awards from the well-recognised and respected Banker Middle East. We have worked tirelessly to become a more customer-centric bank by strengthening synergies with our customers and investing in innovation across all levels of the business to ensure top-notch services. We consider these awards as a benchmark of OAB as well as a testament to the high-quality services that we offer. Receiving this accolade will further motivate us to continue delivering only the best possible services across all of our touchpoints.”

OAB prides itself on being a consumer-centric bank, with services such as OAB life. This platform offers a range of facilities that are vastly beneficial to customers, with an awards points system to allow customers to shop using their points instead of cash, partner offers to provide discounts on a range of shops, facilities and restaurants throughout Oman. Whilst also being the first bank in Oman to launch a digital insurance service. This service has been received extremely well by customers. Alongside this, OAB’s 2018 Customer Care Campaign ensures a customer care manager in each branch, who are responsible for guaranteeing customers have an enhanced banking experience. OAB will continue to provide its customers with innovative and beneficial services, to make their banking easier.

The Banker Middle East Product Awards provides a benchmark for the region’s financial sector, acknowledging the most successful banking solutions, and their pioneering and innovative developments. This year’s edition received 9,200 votes recorded across 51 categories. By winning these two awards, OAB is able to set itself aside from its competitors and continue to work towards becoming a leading bank in the Gulf.

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 65 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 Signs Agreement with Majan Lounge

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Muscat, February 05, 2020: Oman Arab Bank (OAB) recently signed an agreement with Majan Lounge at the Muscat International Airport. The agreement will see platinum and Elite customers gain access to the newly launched lounge at the airport, which has been prepared to receive customers from January 2020. The signing ceremony took place at the OAB head office, with Rashad Al Shaikh, Acting Head of the Retail Bank Division representing the Bank and Engineer Naif Ali Al Abri, Executive Director representing Oman Airports Ground Handling.

Highlighting the importance of the agreement, Rashad Al Shaikh said “OAB prides itself on delivering services that form an integral part of its key pillars. This agreement with Oman Airports will only further the high-quality services that we are implementing to ensure an unmatched customer experience for all our cardholders. We encourage our platinum and Elite customers to utilise this amenity, so as to be able to have a smooth and laidback experience while they are on their travels.”

OAB customers can show their cards at the lounge reception to gain access. For platinum customers, entry is exclusive to the cardholder only, while Elite cardholders are eligible to have a companion as well.

Naif Al Abri commented, “We are extremely proud to be working alongside OAB for the facilitation of ease and convenience for our customers at Muscat Airports. We believe that this partnership will only enhance our offerings and ensure an exceptional travel experience. We look forward to being a part of similar initiatives that OAB might have in the future, to be able to set Oman apart as a popular travel destination, both in the region and in the world. ”

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 65 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 Announces Winners of the New Hasaad Savings Scheme 2020

OAB Announces Winners of the New Hasaad Savings Scheme 2020

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Muscat, March 11, 2020: Oman Arab Bank recently revealed the names of the winners of its newly launched Hasaad draw. This draw saw over 140 winners being announced, as well as the introduction of a new draw category and guaranteed gifting scheme. 2020 will see the largest number of winners ever for OAB’s Hasaad Savings Scheme, totalling over 1,796 winners before it comes to an end with the December draw.



Commenting on the introduction of the 2020 Hassad Scheme, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB said, “With the launch of the new Hassad Savings Scheme, we have designed it in such a way that it offers our customers more chances of winning. This is mainly due to the success of last year’s scheme, which saw a larger pool of winners across a wider range of draws. We hope that the Hasaad Savings Scheme continues to inculcate the importance of a saving culture, not only among individuals and families but for the young generation as well. We believe that this will assist them in building a more stable financial future for themselves and those around them.”

As a part of the scheme, 95 lucky winners, with a minimum of one winner in each branch, will receive a prize of OMR 500 monthly, reaching OMR 1,000 each quarter. There will be 10 winners of OMR 100 each for the Children’s account holders, aged 18 and below; 20 winners of OMR 100 each for Youth account holders, aged between 18 and 27 and two winners of OMR 10,000 each as part of the monthly Elite Draw. The latter Elite draw, however, will see its monthly draw replaced by a Grand Prize draw of OMR 50,000 for one lucky Elite customer, which will occur twice a year, in June and December. In addition to these monthly draws, the Bank will also be conducting a special ‘Big Prize’ draw of OMR 25,000 for one winner across its branch network at the end of every quarter.

A new introduction this year is the Salary Transfer draw, which provides 5 winners with a prize of OMR 500 each month, as well as a guaranteed gift to children and youth (up to 27 years old), once a year, respectively. Moreover, OAB is the only Bank that will be providing a guaranteed gift to its youth customers.

“Through this new scheme, we are looking forward to seeing the largest number of winners accumulated by the end of the year. With several prizes lined up, I encourage each and every one of our valued customers to continue saving to maximise their chances of winning. I wish them all the very best of luck,” 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 65 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.