Muscat, August 25, 2019: As part of its continued effort to support the development of small local businesses as well as to foster long-lasting partnerships with these companies, Oman Arab Bank (OAB) recently hosted its second SME Financial Management Workshop of the year in Salalah.

Commenting on the workshop, Al Salt Al Kharusi, the Head of Corporate and Institutional Banking Group said, “The growth and development of the SME sector is critical to the country’s diversification efforts. To this end the government and local banks have put in place several products and facilities to help support them along the way. However, not all business owners and budding entrepreneurs are fully aware of how to best make use of these facilities. This workshop was developed exactly for this purpose, helping them establish a strong foundation for themselves and efficiently leverage every tool at their disposal to guarantee business success.”

The SME Financial Management Workshop was held at the Bank’s branch in Salalah and saw an attendance of over 25 entrepreneurs and staff from several SMEs operating in the Dhofar region. As with the workshop conducted last month at the OAB Headquarters in Ghubrah, the workshop focused on how to manage business finances and provided SME’s with a deeper insight into the various financial products and services available to them, both from the Bank as well as from the government and other financial institutions. It also showcased how to best make use of these tools and when. The workshop was conducted by Mohammed Zadjali from the Capital Market Authority and was overseen by the Bank’s SME team.

“Building business relationships and establishing long-lasting synergies are key pillars of our operational strategy here at OAB. This is especially true for SMEs, where we endeavour to impart our knowledge and expertise to them in order to maximize their chances for success,” added Jamal Al Wahaibi, Head of the SME Department.

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.

Muscat, 04 August 2019: Following in the footsteps of its successful Nizwa event in June, Oman Arab Bank’s (OAB) Hayakkum made its second stop in Sur on August 1. Held at City Center Sur, the event included a number of fun games and activities for both children and adults, while at the same time providing a platform for a number of artisans and SMEs from the region to showcase their products and services.

Commenting on the roadshow, Hilal Al Siyabi, the Head of Corporate Communication at OAB said, “Getting closer to our customers and the community is something we always strive for and informal gatherings such as these are a great way to achieve this. It allows us to talk directly with them as well as address any queries or concerns they might have. It also serves as a great meeting space for families, friends and entrepreneurs to interact with each other.”

Hayakkum Sur is the second in a series of four gatherings where the Bank will be addressing their customer’s queries and showcasing the Bank’s range of products and services. These include everything from the Bank’s Hasaad Savings Accounts, to biometric security and mobile banking. In addition, as with the event in Nizwa, OAB once again invited a number of artisans and SMEs from the region to join them at the Mall and participate in the roadshow.

“Given the vital role that SMEs play in the economic diversification of our country, we, as a leading financial institution in the country, need to make every effort possible to help them achieve success. Events such as our Hayakkum roadshow offer them the perfect environment under which they can directly interact with prospective customers as well as spread awareness about the products and services they offer,” added Hilal Al Siyabi.

This event was first and foremost a family event. As such, the bank also hosted a number of fun activities for the entire family to enjoy, such as face painting, henna, games and spot prizes. The bank even hosted a magic show and bubble show for children.

This is the second of four stops on OAB’s Hayakkum Roadshow. The next will be Salalah, followed by Sohar, respectively.

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

Muscat, July 18, 2019: Oman Arab Bank (OAB) recently organized its first SME financial management workshop, attracting businesses from diverse industries that bank with OAB. This event was in line with the Bank’s objective to support the development of small local businesses as well as to foster long-lasting partnerships with these companies.

Commenting on the workshop, Al Salt Al Kharusi, the Head of Corporate and Institutional Banking Group said, “Given the importance of the SME sector as a key contributor to trade, employment and economic growth in the Sultanate, it is critical that the sector receives adequate support. This workshop was specifically designed to provide these companies with useful knowledge on how to make the most of their resources. This is a topic that most budding businesses initially struggle with and is particularly important to address at an early stage. In doing so we can ensure these businesses establish a strong foundation for themselves and efficiently leverage every tool at their disposal to guarantee business success.”

This latest workshop held on July 17 at the OAB headquarters in Ghubra saw an attendance of over 20 entrepreneurs and staff from several SMEs operating in the capital. The workshop focused on how to manage business finances and provided the SME’s with a deeper insight into the various financial products and services available to them, both from the Bank as well as from the government and other financial institutions. It also showcased how to best make use of these tools and when. The workshop was conducted by Mohammed Zadjali from the Capital Market Authority and was overseen by the Bank’s SME team.

“As the government continues to act on and develop the country’s economic diversification strategy, SMEs will continue to play a key part in its growth. As one of the oldest banking institutions in the country, OAB has a wealth of knowledge and expertise to offer these budding businesses as they navigate the market and expand their business,”  Jamal Al Wahaibi, Head of the SME Department explained, “Furthermore, as these companies become established, their relationship with the bank will be critical. Built upon a foundation of trust and confidence, this relationship is usually one for the long term. It is for this reason that we continue to host such workshops and events; as this will not only allow us to demonstrate the importance we attach to the growth of SMEs in the country, but will also takes our relationship with these companies to the next level.”

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.

Muscat, July 09, 2017: Oman Arab Bank (OAB) has announced that 20 qualified candidates have now completed the fourth and final module of LEAD 3 (Leadership Enhancement and Development). The candidates concluded Module 4 with group presentations to the senior management from the Bank.

The LEAD 3 event was hosted at the Grand Millennium, under the auspices of Stephen Bennett, Founder and Chairman of Inspirational Development Group (IDG). It was overseen by Hani Zubair, Member of the Board of Directors of OAB, and devoted supporter of OAB initiatives that directly impact the development of young Omanis in the Sultanate, as well as Rashad Al Musafir, Chief Executive Officer of OAB. Also in attendance were several members of the Bank’s Executive Management.

Commenting on the LEAD programme, Rashad Al Musafir said, “At OAB, we believe that leadership is exemplified through a number of personal qualities, we aim to encourage these qualities throughout the LEAD module. A leader at OAB is someone who has the ability to influence their peers to accomplish both individual goals and those of the Bank. Communication skills, group processes, goal attainment, and motivation are all vital qualities for any leader. These qualities help drive innovation, improve organisational processes and individual work practices. Our LEAD programme has been specifically developed to identify and propel our Bank’s future leaders.”

Module 4 was initiated almost immediately following the completion of Module 3 just under three weeks ago. The 20 LEAD candidates were grouped into four teams where they worked on projects with the help and support of their mentors. They subsequently developed their project and presented it to the management on the day of the event for assessment and feedback.

The final component of the LEAD 3 programme will involve a second 360-degree assessment which is expected to be completed in late October. Shortly thereafter the 20 candidates will officially graduate from the programme and be fast-tracked to positions of greater responsibility within the Bank.

“The LEAD 3 programme has been progressing well with every candidate performing above our expectations. Their individual project presentations showcased just how much each candidate has grown personally and professionally in five short months. Each individual has proven that they now possess a clear cross functional perspective of the Bank and its operations, ensuring their effective career development within the Bank and industry for years to come,” said Adil Al Rahbi, Head of the Human Resources Division at OAB.

LEAD is a unique leadership development programme that aims to cultivate the talents of high potential Omanis with guidance from internationally renowned experts. The six-month programme has been designed to utilise best practices in order to empower participants with opportunity, managerial expertise, and high-level workplace solutions.

The ‘LEAD’ programme has been designed in cooperation with Inspirational Development Group (IDG) and is facilitated by a team from IDG, a globally renowned leadership and management performance consultancy. The company has channelled its long history of experience delivering high-quality and intensive work programmes to some of the most prestigious organisations in the world. Closely affiliated with the Royal Military Academy Sandhurst, IDG has worked with some of the most important public and private sector companies in the region from its Middle East office based in Muscat.

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.

Muscat, July 14, 2019: Oman Arab Bank (OAB) has announced that it has recently signed a Memorandum of Understanding (MoU) with Innovation Development Oman Holding S.A.O.C. (IDO Investments), in order to identify and explore potential opportunities for FinTech innovations to be implemented in Oman. The new strategic partnership will also facilitate the development of an innovation eco-system for entrepreneurship in Oman.

The signing of the MoU took place at the OAB Headquarters on 10 July, 2019, with IDO Investments being represented by its Senior Investment Manager, Talal Hasan, and OAB being represented by Al Salt Al Kharusi, General Manager – Head of the Corporate and Institutional Banking Group and Leen Al Atassi, Head of Innovation. Also in attendance were several executives and members of senior management from both institutions.

Commenting on the signing of the MoU, Al Salt Al Kharusi said, “At OAB we are focused on driving innovation forward by collaborating with private and public sectors as well as leading international institutions to create value to our community, customers, employees and all our key stakeholders. To this end, IDO Investments will play a key role in connecting us with global FinTech communities that are looking to scale their solutions in Oman, and to extend their support to our ecosystem as we introduce our first-of-its-kind innovation lab in Oman.”

Under the MoU, OAB and IDO Investments will forge a key strategic partnership to facilitate the exchange of innovative technologies and solutions and give start-ups in Oman the perfect platform from which to launch and grow their business. OAB will also look to incubate some of these FinTech companies within its Innovation Lab once operational.

IDO Investments, together with any other established FinTech companies that it introduces to Oman, will also contribute to the local FinTech space by collaborating with and mentoring start-ups within the Lab. They will assist with workshops and programmes, sharing their expertise, knowledge and invaluable experience with these budding companies.

“Innovation is the key enabler of progress and we firmly believe that this alliance will further boost efforts to establish Oman as a leading FinTech hub in the region. We also aim to leverage our knowledge and networks to assist start-ups within OAB’s Innovation Lab, helping them achieve their goals and, together with OAB, create a borderless ecosystem for future technologies in the country,” said Talal Hasan.

“This partnership between IDO Investments and OAB marks a significant development for the financial industry in Oman. It stands as a testament to how strategic partnerships between government institutions and private sector companies can help promote innovative thinking and growth within the economy. The collaboration also underscores our continued commitment towards leveraging our innovation strategy to further the development of the financial services sector within the country,” Leen Al Atassi, Head of Innovation 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.

IDO Investments was established by the State General Reserve Fund, Oman Oil Company SAOC, The Research Council and Oman Telecommunications S.A.O.G. and is the Sultanate’s first strategic venture capital firm. They invest in established international and local companies which deliver disruptive and innovative products or solutions to address real-world challenges in Oman and beyond.