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OAB Draws the End of Year Prizes for Hassad Family Account During Muscat Festival 2015

Muscat – February 2015: within the celebrations of Muscat Festival 2015, and in presence of a number of Oman Arab Bank Officials, the bank has picked up the end of the year “Hassad” prizes in Al Amerat Garden. Two grand prizes were picked, each was RO 100,000, and the winners were customers from Al Qurum and Al Khuwair. Additionally, monthly prizes were also drawn. Mr. Nasser Rashid Abdullah Al Naabi, from Sohar Branch, won the first prize; an amount of RO 15,000; Mr. Mazin Atef El Ladki, from Al Ghubra Branch, won the second prize; an amount of RO 5,000. The RO 5,000 monthly women prize for was won by Ms. Zahra Marjan Naseeb from Salalah Branch.

The Monthly Children prizes were gained by the lucky Children: Adham Haroon Sulaiman Al Wahibi, Muttrah Branch; Abdulmalek Abdullah Al Rahbi, Bidbid Branch; and Sadiq Ali Ahmed Al Lawatia, Muttrah Branch. Each child won RO 2,000. With respect to the regular monthly prizes for all branches, two customers from each branch won RO 250 each.

The winners were informed by their respective branches. Moreover, Mr. Khalid Ali Said from Nizwa Branch, and Mr. Phirose Parakkal, won the RO, 1000 prize allocated exclusively for customers who transfer their salaries to Oman Arab Bank. The special draw event was held at The Sponsors’ Theatre, Muscat Festival Site, in Al Amerat Public Garden and was attended by a huge number of people to watch the activities performed before the draw such as The Magic Show, children and adults’ competitions and gifts receiving, in addition to other games and activities.

Mr. Amin Al-Husseini, CEO of OAB, stated that: “As Golden sponsor’s to Muscat Festival, we decided to draw end of 2014 winners of “Hassad” Savings Account during the Festival in order to introduce this saving scheme to different segments of people, particularly to the children and the youth, as we believe in educating the new generation about the culture of savings.”

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Under the patronage of the German Federal Minister of Foreign Affairs Oman Arab Bank brings World Music to the Sultanate

Muscat, February 3rd 2015 – Oman Arab Bank (OAB) on Sunday brought world music to the fore, supporting the internationally acclaimed German music group, Jacaranda Ensemble, at a special concert that took place at the Ministry of Education Auditorium in Wattayah. Held under the patronage of the German Federal Minister of Foreign Affairs, H.E. Dr. Frank-Walter Steinmeier, and attended by local and international dignitaries and the general public, the lively performance showcased the sounds of instruments from across the globe to offer music enthusiasts a harmonious melodic bliss composed to perfection.

Commenting on the event, Amin Al Husseini, CEO of Oman Arab Bank, said, “Music has always had the ability to bridge cultures and draw a smile on the faces of people from various walks of life. Jacaranda Ensemble successfully wowed the audience and proved that music is a universal language which everyone can appreciate and understand.”

He added, “Oman Arab Bank believes in the value such cultural projects can have on society and we look forward to hosting similar social activities and events in the future.”

Organized by Arabesque International in collaboration with the German Embassy in Muscat and supported by Oman Arab Bank, the concert marks the third event of the second season of the Muscat Chamber Music Series. The Muscat Chamber Music Series is a non-profit project launched by Arabesque International that blends education, arts and music. The project revolves around inviting highly experienced chamber music ensembles from across the globe to Muscat to host educational and musical workshops in local schools followed by open to all music concerts.

 

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Oman Arab Bank participates in Muscat Festival with Special Offers on Loans & Cards

Muscat: February 2016: In celebration of the Muscat Festival, Oman Arab Bank, the Participating sponsor, is offering a special rate on all loans and Credit Cards for all customers visiting the OAB stall at the Al Amerat Park venue.

For customer convenience, the vibrant OAB stall is equipped with state of the art ATM & CDM and OAB representatives are servicing the customers every day from 5pm till 10pm.

Customers can avail a special interest rate reduction of 0.25% on all loans applied at the venue during Muscat Festival.

Moreover, customers get a Free OAB Credit Card for the first year with every loan application (subject to terms and conditions) and up to three free supplementary cards. Customers can earn reward points on retail spending. They can redeem the points and choose from over 900 airlines, 200,000 hotels and car rentals in over 150 countries across the globe. The Free Lifetime Internet Shopping Card with every credit card application is proving to be a major attraction with customers.

Speaking on the occasion Mr.Fahd Amjad GM-Retail Banking said,

“We are pleased to take part in the Muscat Festival this year and use the festive occasion to announce offers for our customers. The OAB promotion runs from 14th January to 13th February 2016, we invite all visitors to come to our stall and get familiar with the wide range of products OAB has to offer.”

The Bank offers personal finance facilities with attractive interest rates and flexible payment terms for our clients. Customers can avail it for several purposes.

Those looking to purchase a new or used vehicle can opt for an instant Markabati Auto Loan with competitive rate.

Customers can fulfill their dreams of constructing, purchasing or renovating their home with the OAB’s Al-Dar Housing Loan. OAB provides home finance for all types of completed or under construction real estate projects, in the form of long-term loans, covering up to 80% of the property value, with repayment period up to 25 years. The Bank also provides repayment holiday between 12-18 months for under-construction developments, during which period only the monthly interest on the loan principal shall be applicable.

Oman Arab Bank Credit Cards provide an array of benefits to customers including interest free payment period, flexible monthly minimum payment option, free travel Insurance & Purchase Protection, Zero Lost Card Liability and online shopping security via verified by Visa and more. The card is also equipped with an advanced chip feature to protect Card member’s confidential information. While travelling, OAB Credit Card holders can enjoy a relaxing lounge experience at over 500 international airports including Muscat and Salalah.

OAB is currently on a transformational mission to digitalize its services for clients in Oman. Oman Arab Bank is a leading bank in the Sultanate of Oman and it proudly operates in 65 branches and offices, more than 123 ATMs and deposit machines across the Sultanate. The bank offers a wide range of banking products and services to its valued customers through Retail, Corporate, and Investment Banking operations.

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Oman Arab Bank Educate Employees with Counterfeiting and Forgery Detection Training

Muscat, February 2016: As part of the growing cooperation between Oman Arab Bank (OAB) and the Royal Oman Police (ROP), represented by the Directorate General of Criminal Inquiries and Investigations (CID), Oman Arab Bank’s Training Department has recently organized a Counterfeiting and Forgery Detection workshop for branch employees at the South Batinah Region. Held at the Suwaiq Branch, the workshop is in direct response to the Central Bank’s recommendations aimed at upgrading the security culture and awareness and enhancing the efficiency of the personnel of the banking sector by developing their capabilities in detecting counterfeit and forgery activities of currencies and financial documents. Attended by 23 employees, the workshop educated staff with the latest visible and invisible means and technologies used to protect national and foreign currencies, as well as how to analyze handwritings and examine documents, signatures and electronic cards.

Ali Moussa, Head of Human Resources at Oman Arab Bank, said, “We strongly believe that our employees represent the heart and soul of the Bank and therefore ensuring they are equipped with the tools and skills is a top priority. This also includes training in Counterfeiting and Forgery to minimize and avoid security breaches or errors and safe guard our valued customers.”

Oman Arab Bank is a leading bank in the Sultanate of Oman, boasting a wide network of 65 branches and offices, as well as more than 120 ATMs and CDMs across the Sultanate. The Bank provides a comprehensive product and service portfolio including retail banking, corporate and project finance, investment banking, and trade finance.

About Oman Arab Bank:

Oman Arab Bank SAOC was established in 1984 following the acquisition of Arab Bank’s branches in the Sultanate. Over the past three decades, the Bank has consistently expanded its reach as well as its products and services offering to provide customers in the country with a comprehensive suite of innovative solutions in Retail banking, Corporate and Project finance, Investment banking, trade finance and most recently, Islamic Banking.

Today, Oman Arab Bank operates more than 65 branches and office, and more than 123 ATMS in high footfall locations across the Sultanate that are supported by Arab Bank’s 600 branches spanning five continents. The Bank’s principal shareholders are Oman International Development and Investment Company SAOG (51%) and Arab Bank PLC (49%) and As of December 31st 2015, the Bank’s total assets stood at RO 1.98 Billion (USD 5.15 Billion) and net worth of RO 226 Million (USD 587 Million).

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Al Yusr Shari’a Supervisory Board Holds Ninth Meeting

Muscat, February 2016 Al Yusr Islamic Banking, the Shari’a Compliant window of Oman Arab Bank, recently conducted its ninth Shari’a Supervisory Board meeting at its corporate office in Al Ghubra. During the meeting, the Board approved the Shari’a Audit and Shari’a Compliance Review Plan for the year 2016 and signed-off on the introduction of new products and services, including Currency Swap, Islamic Profit Rate Swap, and Islamic Hedging. Al Yusr’s Core Banking system and product manual were also assessed to ensure complete alignment with the principles of Shari’a.

The meeting was led by Dr. Essam Al-Enezi, Chairman of Al Yusr Shari’a Supervisory Board, and attended by Board Members Dr. Ahmad Subhi, Dr. Abdulaziz Al-Qassar and Ahmad Ayyadi as well as Al Yusr General Manager, Abdul Qader Al-Balushi. Abul Qader, commended the meeting, saying that the Board’s approval of new products and services will further support Al Yusr’s pioneering efforts to provide Shari’a compliant solutions for people throughout Oman. He also expressed his gratitude to the Board for guiding Al Yusr’s operations and ensuring its ability to meet customers’ constantly evolving banking needs.

Additionally, the Shari’a department updated the Board on the effective compliance of the Al Yusr’s retail departments and branches. Meanwhile, Dr. Muhammad Iman Sasra Mihajat, Head of Shari’a Audit and Compliance, also met with the Board to discuss the department’s plans to deliver a series of workshops across Oman to raise awareness on the concepts and principles of Islamic banking.

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Oman Arab Bank Launches “Elite” Priority Banking

Muscat: February 2016: Oman Arab Bank (OAB) has introduced ‘Elite’ banking for high net worth individuals. The service is tailor-made for the bank’s priority customers and packages a host of specially designed products and services. Central to Elite banking proposition is a dedicated relationship manager for every customer and a superior banking experience delivered through specialized Elite centers. OAB marked the launch of ‘Elite’ banking by inaugurating the first Elite Center in its Head Office branch in Ghubra. The center is first of many planned to open across the Sultanate strengthening the value proposition for OAB customers. The inauguration ceremony was held under the auspices of the Bank’s board members Mr. Hani Al Zubair and Mr. Imad Sultan along with Mr. Amin Al-Husseini, CEO Oman Arab Bank.

OAB already has an established high net worth customer base. The Elite proposition primarily attempts to recognize this existing base by offering priority banking and at the same time invites new customers to experience the difference. Speaking on the occasion, Mr. Amin Al Husseini, CEO of OAB said, “The launch of ‘Elite’ banking complements our strategy to build stronger banking relationships with prominent individuals in the country and providing them with best in class service. We already have many such customers in the bank and we firmly believe that we will set a new benchmark for priority banking services with ‘Elite’. Oman Arab Bank is committed to reciprocating the trust and confidence bestowed by the bank’s high net worth customers in the bank over the years.”

Elite banking proposition is centered on three pillars, which are Elite Services, Elite Benefits and Elite Wealth Management. Elite Services include a dedicated relationship manager, premium service centers, preferential service in the branches, and 24hour call center support. Under benefits, the customers receive a Free for life Elite Infinite Credit card with unlimited complimentary lounge access to over 500 international airports, personal concierge services, and much more. Finally, Elite Wealth Management focuses on providing financial planning and investment services to its customers.

Elite membership is reserved exclusively for customers who fulfil an eligibility criteria decided by OAB. All new customers receive an exclusive welcome kit along with a branded debit card and cheque book. Many banking service charges are discounted, while there are preferential rates available for both deposits and loans. The customers also get a free mobile application for merchant discounts including holiday destinations.

Marking the celebration, Hanaa Al Hinai, AGM Head of Wealth Management, Liabilities and Bancassurance said: “The personalized banking platform of Elite aligns a strong value proposition with the needs of high-end customers, and provides a distinguished and specialized banking experience. Elite customers are served by qualified relationship managers who are highly trained to deliver the right solutions to its customers. They will also be the single point of contact for all the customer’s banking requirements to ensure priority transactions processing and timely resolution for all queries.”

One of the many highlights of the Elite value proposition is that the Elite banking customers can also participate in exclusive Elite prize draws via the Bank’s Hassad savings account. The exclusive prize draws for Elite customers include a half-yearly draw of RO 100,000 for 1 winner in June and another end of year draw of RO100,000 prize in December. The exclusive Elite prize draws will be in addition to their participation in all Hassad scheme prize draws which include a monthly regional winner of RO40,000.

Oman Arab Bank is a leading bank in the Sultanate of Oman and it proudly operates in 65 branches and offices, more than 123 ATMs and deposit machines across the Sultanate. The bank offers a wide range of banking products and services to its valued customers through Retail, Corporate, and Investment Banking operations.