OAB Hosts Graduation Ceremony for LEAD (1) Development Program

Muscat, January 17, 2018: Reinforcing its commitment to nurture and develop future leaders within the banking and finance sector, Oman Arab Bank (OAB) recently hosted a graduation ceremony for the members of its staff that successfully participated in and completed the first edition of its talent development program titled ‘Leadership Enhancement And Development’ (LEAD). As part of the ceremony, each of the 20 talented Omani staff members were presented with a certificate and a token of appreciation from the Bank. The graduation ceremony was held at Bait Al Zubair, under the auspices of H.E. Tahir bin Salim bin Abdullah Al Amri, the Executive President of the Central Bank of Oman. The event was attended by Khalid Al Zubair, Chairman of Ominvest (Oman International Development and Investment Company SAOG), and overseen by Amin Al Husseini, Chief Executive Officer of OAB.

Commenting on OAB’s LEAD program, Amin Al Husseini, Chief Executive Officer of OAB noted, “LEAD is a unique and specialised leadership training program that has been developed in line with the management’s strategy to ensure the continuous development of OAB talent. As such, the program begins each year with the identification process for high potentials (HiPos) in various departments and disciplines across the Bank; conducted by the Bank’s HR Division. These selections are not dependent on their grade or department; they are based purely on their qualifications, potential to grow and handle future key positions, together with the necessary attributes to progress to more senior levels. Following such a carefully moderated system helps us in building a pool of talented employees, while at the same time also contribute towards supporting and building up the Sultanate’s national workforce.”

The event commenced with a speech by Adil Al Rahbi, Head of the Human Resources Division, who said, “The six month program, which has been developed with guidance from the globally renowned leadership and management performance consultancy firm Inspirational Development Group (IDG), utilises best practices in order to empower participants with opportunity, managerial expertise, and high-level workplace solutions. LEAD (1) has been an incredible success for the Bank with each of its 20 candidates acing the course. In fact, a majority of them have already taken up positions of greater responsibility within the Bank.”

Shortly after Adil’s speech, a short video was played that provided the attendees with a quick insight into the LEAD program and the participants’ journey over the course of the year. This video was then followed by a speech by Gerry Woods, the Middle East Regional Director at Inspirational Development Group (IDG), the company who helped develop the program and conducted the training.

Commenting on the successful outcome of OAB’s LEAD programme, Gerry Woods noted, “It has been my privilege to work closely with the bank to deliver leadership excellence, and I commend the CEO Amin Husseini for his foresight in instigating such a challenging developmental programme. Leadership is a privilege, and I believe that if this philosophy is embraced, leaders at all levels can set the conditions for the success of their colleagues.”

“The LEAD journey begins by being able to manage oneself and the impact individual behaviours can have on others. This can be a real eye-opener for many people as behaviours and their effects are made explicit even for very experienced delegates; even after just the first module, we can see changes occurring.” Gerry Woods added.

Sara AlKalbani a LEAD (1) graduate, then addressed the audience saying, “This program has been an incredible learning experience for each one of us; having been taught a number of new skills that have already had a significant positive impact in our day-to-day jobs. On behalf of every candidate I would like to express my sincere gratitude to Members of the Board and the Executive Management at OAB for providing us with this valuable opportunity. It has benefitted each one of us greatly and will no doubt reflect positively in our performance going forward.”

Following the conclusion of the speeches, each of the graduates were handed a certificate and a token of appreciation from H.E. Tahir bin Salim bin Abdullah Al Amri for their successful completion of the course.

Congratulating each of the graduates, Amin Al Husseini said, “On behalf of board and executive management at OAB, I would like to congratulate each of our 20 graduates of LEAD (1). I hope their success in the LEAD course and subsequent promotions to positions of higher responsibility will inspire other staff within the Bank to work harder and put in extra effort for an opportunity to be selected in future LEAD programs.”

The graduation ceremony follows in the footsteps of the launch of the LEAD (2) program launched in November 2017. As with LEAD (1) the 20 new LEAD (2) candidates were also selected from across all employee rankings within the bank, pinpointing the Bank’s most talented staff members. Their acceptance into the leadership programme was preceded by a robust and constructive development centre. The participants have already commence on their first training modules, where they work side by side with some of the best motivational experts, specialised in leadership development. As the course progresses, each of the candidates will be equipped with enhanced leadership skills and behaviours that will ensure effective people development in the coming years. LEAD (2) also features an additional module on business innovation from Cass Business School and other activities related to team building in addition to group projects.

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 programs to some of the most prestigious organizations 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. Former and current clients include the King Abdullah II Fund for Development in Jordan, Shell Petroleum in Qatar, and the Saudi Arabian General Investment Authority among others.

The LEAD graduation ceremony saw the attendance of Excellencies, members of the board and senior management of Oman Arab Bank, together with representatives from the banking sector in Oman and senior figures from the private sector.

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 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.

Competitive Auto Finance Offer from Al Yusr Islamic Banking

  • Competitive annual Murabaha Rates starting from 5% with payment period of up to 10 years

Muscat, January 29, 2018: Al Yusr, the Islamic Banking Window of Oman Arab Bank (OAB), has announced the launch of a new auto financing offer that provide Al Yusr Islamic Banking customers with an opportunity to obtain financing at competitive Murabaha rates, starting from just 5% on reducing bases (equivalent to 2.8% flat rate) and with a maximum repayment period of up to 10 years. The special offer runs until the end of March 2018.

Commenting on the new vehicle finance offer, Dr. Khalifah bin Ahmed Al Ghammari, General Manager of the Al Yusr Islamic Banking Window of Oman Arab Bank said, “At Al Yusr, we are always looking to deliver the very best products and services available in the Islamic Banking Sector. Special offers such as these are part of that goal, giving our Al Yusr customers an opportunity to obtain Shari’ah compliant vehicle finance at very competitive Murabaha rates throughout the offer period, which runs until the end of March.”

Highlighting the details of the new offer, Jamil Abdul Qader Al Zadjali Head of Retail Banking and Business Support added, “Al Yusr once again delivers not only an unmatched customer experience with our new auto finance offer, but highly competitive Murabaha rates on new and approved used vehicles.”

“Al Yusr vehicle finance offers special Murabaha rates of between 5% and 5.5% for Government and semi government employees, with a maximum repayment period of 10 years for new vehicles and 7 years for used. For the employees of approved companies, the annual rate for Auto Finance ranges between 5.25% and 5.5%. The Murabaha rate and payment period varies for the rest of the customers depending on the classification of their place of work.” Jamil Al Zadjali added.

“With rates that are amongst the best in the market, we believe that offers such as these help meet the needs of customers; helping them purchase the car of their dreams quickly and easily.” Dr. Khalifah concluded.

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 Wattayah), 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.

Oman Arab Bank Reveals Hasaad Savings Scheme for 2018

  • Monthly winners from each branch

Muscat, January 31, 2018: Oman Arab Bank (OAB), encouraging the savings habit with customers, has announced the new ‘Hasaad’ Savings Scheme for 2018. The scheme has been completely revamped from last year to offer customers greatly increased chances of winning across all the Bank’s branches on a monthly basis, as part of the monthly branch draws. Other draws include monthly draws for Elite account holders, in addition to major monthly prizes and commemorative draws on special occasions such as Eid.

Commenting on the new program, Fahd Amjad, the General Manager of Retail Banking at OAB said, “With the Hasaad Savings Scheme we aim to encourage the habit of saving among our clients to ensure themselves a more secured and prosperous future. This is why we aimed to include all our clients from across our 58 branches in our draws on a monthly basis. In doing so we can continually encourage them to increase their savings and reward them with a chance to win great cash prizes.”

Hasaad Savings Scheme in its current edition offers the Bank’s clients across all regions and branches a chance to win one of several valuable prizes on a monthly basis. These prizes come as part of the Bank’s monthly draws of OMR 1,000 per winner for the lucky winners across all branches. Regional Prize Draws, which will see one winner of OMR 20,000, will be conducted once every two months over the course of the year. The Hasaad Savings Scheme will also include 12 dedicated prize draws for Elite account holders with one winner of OMR 50,000 every quarter and one winner of OMR 20,000 for every other month in between.

Fahd Amjad added, “We are very excited to conducting the January draws in the next couple of days and announce the names of the first batch of lucky winners in the 2018 Hasaad Savings Scheme. The 83 winners of the draw will be from all our branches in the Sultanate. It’s a new strategy of the Bank in line with its aspirations to be the preferred bank in the country, one that maintains close ties to all its clients wherever they may be located. We are delighted to announce the details of the program and encourage all our clients to increase their savings to increase their chances of winning one of the many prizes before the end of the year.”

OAB customers can easily open a ‘Hasaad’ account with a minimum balance of OMR 100, in order to be eligible for most of the prize draws.

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

 

Amin Al Husseini of Oman Arab Bank steps down and Rashad Al Musafir is appointed as Acting CEO

Muscat, February 5, 2018 | Amin Al Husseini and Rashad Al Musafir have started their new roles at Oman Arab Bank as of February 1st, 2018. Al Musafir’s appointment is aligned with the executive succession plan previously adopted by the bank at the senior management level. Al Husseini, who first joined Oman Arab Bank in 2014, has been leading the digital transformation strategy and will be retained by OAB in an advisory capacity, with the mandate to oversee the executive transition and hand-over.

The leadership baton has now been passed to Al Musafir, who has been the Bank’s Deputy CEO and COO for the last 18 months. Al Musafir has over 20 years of banking experience. His previous assignment was with Bank Sohar where he held various leadership positions, including the role of Acting CEO. Al Musafir is a certified public accountant (CPA), holds a BA in economics and finance from Boston University and has completed the Harvard Business School’s general management program.

OAB and Thawani Technologies Sign Partnership Agreement

  • Rashad Al Musafir: The new platform, alongside the bank’s e-payment portal, will contribute towards enhancing retail trade and services in the Sultanate.
  • Majid Al Amri: Thawani platform is the most advance solution to facilitate payments for merchants and consumers alike

Muscat, February 13, 2018: Oman Arab Bank (OAB) and Thawani Technologies have recently entered into a partnership agreement under which OAB will function as the banking partner of the Thawani platform, an innovative e-payment solution. The signing ceremony saw the presence of Rashad Al Musafir, Acting CEO of OAB, representing the Bank, and Majid bin Fayil Al Amri, Founder and CEO of Thawani, representing Thawani Technologies.

The agreement was signed at a press conference held at the Grand Millennium, Muscat; in which it was stated that OAB will act as the banking consultant for Thawani to ensure that the smart platform products comply with instructions set forth by the Central Bank of Oman (CBO) and other market authorities. Additionally, OAB will also work closely with them on matters relating to risk management and combating financial fraud, alongside the execution of all transactions via Thawani’s new e-payment app.

Rashad Al Musafir ntoed, “OAB has previously invested extensively in building its e-payment gateway as part of its digital transformation plan. This gateway was successfully launched a few weeks ago. The signing of this partnership agreement with Thawani, for the launch of this unique platform, the first of its kind in the Sultanate, will greatly benefit the retail and services sector. It will further facilitate easy payment processes while at the same time ensuring privacy, confidentiality, and security.”

From his perspective, Majid Al Amri noted, “We are delighted to partner with a bank that has such a visionary outlook for the e-payment field. We are confident that the Thawani platform is going to play a fundamental role in facilitating digital transactions. Over the course of the last six months, we have witnessed high market demand for e-payments solutions and the technology utilised for the Thawani platform is amongst the most advanced in the world. Today, we see a new era for e-payment solutions in the country; made possible through our advanced app utilising the latest technologies and overseen by highly qualified staff, in cooperation with a pioneering banking institution, well known for its innovative digital solutions.”

OAB launched its e-payment gateway in late December in line of its future vision of the financial services’ sector, which is currently undergoing a rapid transformation towards a more digital economy. The Bank has been working to provide e-payments solutions that ensure transparency and convenience for all customers, with advanced levels of security and ease of use, that encourage them to carry out their business transactions through the Internet.

Thawani Technologies launched its new e-payment platform ‘Thawani’ in May 2017 to become the first of its kind in the Sultanate. The platform featured an innovative design that ensured easy accessibility of its services for both businesses and consumers. The users need only carry out the initial setup and enter their financial data in order to start using the app and make or receive payments. As such, the platform has introduced the Sultanate to a new era of financial transactions, one that will facilitate easier and faster payments while reducing all probable risks.

As for security, Rashad al Musafir asserted that the platform is set up in accordance with all CBO regulations as well as international PCI DSS and PA-DSS standards for data integrity and secure encryption.

Al Amri also confirmed that Thawani, in collaboration with relevant departments at OAB, adopts very strict controls to ensure fraud protection, risks management, and anti-money laundering.

Starting from March 13, the Thawani App will be made available on both Google Play and App Store for free. While using the App, customers will not only enjoy absolute convenience but will also be able to keep their banking data completely private. They will not be required to share any card, bank, or account information at any point during a transaction. In addition, with Thawani, customers need only scan the buyer’s QR code and enter the amount of payment required to complete the transfer process. If you are not present at the shop, you can instead use their supplied merchant ID or saved phone number to carry out the transaction. Alternatively, the merchant can send you a payment request via ‘WAYYAK’ on the app, which you can then approve to complete the transaction. In addition to the convenience it provides, the app also offers a wide range of other benefits including a new alternative for making bill payments.

For businessmen and retail merchants, the new platform from Thawani and OAB will be far more useful than systems currently available on the market. In addition to the minimal fees required for using the platform, the time to complete a payment transaction is amongst fastest in the market, thanks to new technologies and programs developed by both Thawani and OAB. As such, the app will definitely reduce human errors and encourage staff to focus more on customer service rather than the financial process itself.

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

For more information on Thawani go online to www.thawani.om or call +968 2456 5013, you can also follow the brand on its ‘ThawaniPay’ facebook page, on instagram at www.instagram.com/thawani_pay, or on twitter @Thawani_Pay.

Barr Al Jissah and Oman Arab Bank Join Hands to Offer New Luxury Lifestyle Experiences

Muscat, February 18, 2018: Barr Al Jissah, the exceptionally exclusive destination and first Integrated Tourism Complex (ITC) in Oman, and Oman Arab Bank (OAB), a leading Banking institutions in the country, signed a Memorandum of Understanding (MoU) for a long term partnership. This partnership will see Barr Al Jissah and OAB’s Elite Banking Program, one of the most established programs of its kind in the country, join forces to offer exclusive luxury services and experiences to customers with very privileged benefits.

The signing of the agreement took place on February 5. Representing Barr Al Jissah at the event was Hussain Al Khabouri, the Chief Operating Officer, while OAB was represented by Rashad Al Shaikh, the DGM of Retail Banking. The Executive management and senior members of staff from both companies were also in attendance.

Commenting on the new partnership, Hussain said, “OAB’s Elite banking service for high net worth individuals, complete with its host of exclusive benefits and dedicated customer service sections in all flagship branches, is amongst the best available in the market. It is a perfect complement to the exceptional services and benefits we ourselves offer to visitors and home owners. We are honoured to have signed this MoU with them and I am confident their Elite banking service will be a great addition for all our new and existing home owners, whilst the preferential home financing will be a great option for those still looking to purchase a property here at Barr Al Jissah.”

Rashad added, “As the Sultanate’s first established ITC and one of the leading luxury destinations, Barr Al Jissah offers unique lifestyle experiences that cannot be found elsewhere in the country. The high-end luxury homes and lifestyle they offer are of the highest calibre and of a standard that perfectly complements our Elite Banking Service. We are honoured to have joined hands with them and look forward to a long a fruitful partnership ahead.

As part of the partnership, Barr Al Jissah lifestyle and OAB Elite Banking services will be offered with some exceptional benefits. These will include Home Loans at preferential rates from OAB for anyone looking to purchase property at the ITC. The Bank will also present all existing and new home owners at Barr Al Jissah with an Elite Banking account together with all the benefits that accompany it. This includes a dedicated relationship manager, free for life Elite Visa Infinite Credit and Platinum Debit card, preferential pricing on deposits and loans, special tariffs for bank charges (including safe lockers), unlimited complimentary lounge access at over 700 International Airports, complimentary chauffeur service for up to six trips a year to and from Muscat International Airport, and free travel insurance, purchase protection, and extended warranty with Visa Infinite. Furthermore, OAB Elite Visa Infinite customers can enjoy value added offers at renowned merchants across the Sultanate of Oman and GCC and will be presented with free 2,000 bonus points upon card activation. Card usage is also rewarded with spend points at the rate of one point for each one riyal transaction. These can be redeemed online across major airlines, hotels, or car rentals.

In addition, Barr Al Jissah real estate projects, namely its Al Mina Waterfront Residential Development and Bannenberg & Rowell Limited Edition Townhomes, will be exclusively showcased as the suggested real estate project within the OAB elite banking investment consultancy program. The Al Mina Waterfront Residential Development, which is currently under construction, is the latest addition to the ITC and is home to the cleanest and deepest marina in the country. The Bannenberg & Rowell Limited edition townhomes are a one-of-a-kind home with a unique interior inspired by modern yacht design.

As part of the MoU, Barr Al Jissah will provide all OAB Elite customers with a number of offers for the facilities, lifestyle experience, and services available at the ITC. These include 25% discount and priority booking at BAJ events with door-to-door delivery of tickets, 30% discounts for family and children’s activities at the Al Mazaar Entertainment Centre, and 20% off rooms, dining and spa at both Shangri-La Barr Al Jissah Resort & Spa and Shangri-La Al Husn Resort & Spa. Oman Arab Bank Elite Customers looking to purchase home at Barr Al Jissah will also be presented with preferential pricing.

Purchasing a home at Barr Al Jissah also comes with a host of exclusive and exceptional lifestyle benefits. These include direct access to the luxury amenities provided by Shangri-La Barr Al Jissah Resort & Spa and Shangri-La Al Husn Resort & Spa via a membership program, as well as access to the private beaches and exclusive marina facilities of Barr Al Jissah through private berth booking and being a home owner. The latter include access to the members-only yacht club and its facilities. The Yacht Club, which is currently under construction, will include a new dive and sailing centre, private beach, two saltwater infinity pools and a unique beachfront zone. The club will also feature a one-of-a-kind upscale marina-side boardwalk with boutique retail outlets and al-fresco dining.

In addition to these benefits, Barr Al Jissah home owners also receive private concierge services by a dedicated in-house team. This service will be complemented by a soon-to-be-released secure and personalised mobile app offering home and yacht owners at Barr Al Jissah the most convenient lifestyle available in the country.

For further information and details, please visit www.barraljissah.com and www.oman-arabbank.com

OAB Opens New Flagship Branch in Sur

Muscat, February 25, 2017: Highlighting its commitment to offer the best financial solutions and customer experiences across the Sultanate, Oman Arab Bank (OAB) celebrated the opening of its new flagship branch in Sur. The all-new customer-focused branch is conveniently located at Sur’s Souq, and will deliver greater levels of convenience and enhanced banking facilities to the Bank’s customers in Sur.

The official branch opening took place on February 21, and was held under the auspices of His Excellency Sheikh Nasser bin Mohammed Al Hashar and was attended by Rashad Al Musafir, Acting CEO of OAB, together with other senior members of the Bank management and staff. Also in attendance were several of the Bank’s VIP customers from the region.

Commenting on the launch of the new branch, Rashad Al Musafir, Acting CEO of Oman Arab Bank noted, “This event marked the first of several new branches that we plan on opening, re-positioning, or transforming this year, as part of our ongoing nationwide transformation strategy for the bank. As with the other branches that have undergone this change, this revamped flagship Sur Branch will feature the very best in technology and products, together with personalised levels of service, generous size, spacious layout with two cashiers and five Universal of Customer Services (UCC), and a significantly large parking area. As a result, this new branch will elevate the banking experience for our customers in Sur to an entirely new level.”

The new Sur branch features an enhanced brand identity with a refreshed look and feel, identical to the two flagship branches opened last year by OAB, in Qurum and Barka respectively. Aesthetically, its design inspiration has been taken 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 sleek, modern, and streamlined look is augmented by a number of features and systems introduced as part of the new transformed branches. This includes the introduction of a new meet and greet facility with a streamlined queuing system, private advisory spaces with moving monitors for more personal interaction, together with digital signature pads and ID Card readers within the advisory station design.

The new Sur 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.

Al Musafir added, “This marks the first of a series of branches we plan on opening this year across the country. As yet another one of our flagship branches, the new Sur branch joins the Qurum and Barka branches as amongst the largest in the country. This new branch will help us transform the banking experiences of our customers in Sur and the surrounding area, helping us not just meet, but exceed their expectations; taking us one step closer to our ultimate goal of being the bank of choice for customers across the country.”

“OAB has a long term vision for the future of banking in the Sultanate. It is aware of the rapid changes imposed by modern technology in banking sector; therefore, it is implementing its transformation strategy in such a way as establish itself as the first bank of choice across the Sultanate. The most notable feature of this strategy is transforming its bank branches; and in turn transform the banking experiences of our customers and helping us not just meet, but exceed their every expectation,” he concluded.

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 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 Conducts First Draw of Hasaad Savings Scheme 2018

Muscat, February 28, 2018: Following the launch of its new Hasaad Savings Scheme for 2018 last month, Oman Arab Bank (OAB) has conducted the very first draw event for the month of January. The draw saw 83 winners from across the Bank’s branch network receive OMR 1,000, together with one winner of OMR 20,000 as part of the Monthly Elite Draw.

“Following feedback we received from our customers, we have further streamlined the Hasaad Savings Scheme for 2018 to include all our clients from across our 58 branches in our draws on a monthly basis,” said Fahd Amjad, the General Manager of Retail Banking at OAB, while commenting on the new scheme. He added, “On behalf of OAB I would like to congratulate each of the 84 winners of the very first draw of the Hasaad Savings Scheme 2018. I would also like to encourage all our customers to increase their savings to maximise their chances of winning one of the hundreds of prizes available before the end of the year.”

Hasaad Savings Scheme in its current edition offers the Bank’s clients across all regions and branches a chance to win one of several valuable prizes on a monthly basis. These prizes come as part of the Bank’s monthly draws of OMR 1,000 per winner for the lucky winners across all branches. Regional Prize Draws, which will see one winner of OMR 20,000, conducted once every two months over the course of the year. The Hasaad Savings Scheme will also include 12 dedicated prize draws for Elite account holders with one winner of OMR 50,000 every quarter and one winner of OMR 20,000 for every other month in between.

OAB customers can easily open a ‘Hasaad’ account with a minimum balance of OMR 100, in order to be eligible for most of the prize draws.

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

OAB Sponsors 13th Annual World Exchange Congress

Muscat, March 4, 2018: In line with its commitment towards supporting important events hosted by the Sultanate, giving special emphasis to commercial events, Oman Arab Bank (OAB) recently sponsored the 13th edition of the World Exchange Congress. The event was organised by Terrapin in partnership with Muscat Securities Market (MSM) and took place on 27-28 February 2018 at the Shangri-La Barr al Jissah Resort and Spa. As one of the world’s largest financial gatherings, the Congress brought together the world top investment funds and stock exchanges, in addition to several other key stakeholders.

Commenting on the importance of sponsoring such an event, Rashad Al Musafir, the Acting CEO of Oman Arab Bank said, “Sponsoring the World Exchange Congress, which was hosted by MSM, reinforces our strong belief in the necessity of the constant collaboration between the government and private sector. Nowhere is this more evident than in the securities industry. In fact, we are delighted with the knowledge we gained from our participation in such an important forum, one that helped us network and interact with some of the leading experts of the stocks world. Furthermore, a forum such as this is essential in helping boost the profile of the Sultanate on the global financial stage, as well as presenting Muscat, together with its various investment opportunities, as an appropriate and qualified destination to host important international events. As such, we are extremely proud to sponsor this forum and look forward to do so again for any similar events in the future.”

The opening ceremony of the World Exchange Congress was held under the patronage of His Excellency Dr. Ali bin Masuod Al Sunaidi, Minister of Commerce and Industry. The two-day ceremony also saw the attendance of a number of ministers, under-securities, and officials of various securities markets, investment funds, and investment companies from around the world.

This international forum brought together over 250 experts, specialists, and financial decision makers from 60 different countries. Also present at the event were 40 speakers from around the world who presented papers on several different topics including investment opportunities available in the region’s markets, innovative strategies to boost the securities industry, the most recent technologies utilized in stocks exchanges, the technology used in analyzing data and its role in enhancing investment environment and attracting investors, amongst others. The role of securities markets in encouraging innovation and supporting future economic growth, the global trend towards Islamic investment tools, and financial derivatives useful in supporting emerging markets were also investigated.

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 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 boosts Operational Efficiency with ‘Mirsal’

  • The new system enhances internal workplace based on accurate KPI’s
  • Periodical statistics on orders type and size, as well as speed of completion

Muscat, March 6, 2018: In line with its constant efforts to promote efficiency within the workplace in order to achieve higher levels of customer satisfaction, Oman Arab Bank (OAB) announced the implementation of the ‘Mirsal’ system. The new system is designed to follow-up on internally-sent orders from all departments and track the time required for completing them. With Mirsal, OAB’s executive management will have at their disposal accurate figures about the number and kind of orders exchanged between departments and the time taken to complete them. With this information in hand, the Bank seeks to reduce the completion time of orders and take yet another step forward towards offering the very best customer service in the Sultanate.

Speaking on the launch of Mirsal, Rashad Al Musafir Acting CEO of Oman Arab Bank, stated, “Mirsal is yet another step forward in our digital transformation plan we launched for OAB in 2016.It is designed to enhance operations and increase productivity within all departments by creating a competitive environment with high-level criteria of quality and performance. The new system was introduced with the aim of further developing the digital infrastructure within the Bank, which in turn ensures we remain at the forefront of e-banking services both within the Sultanate and the region.”

Marwan Al Khouli, Head of Operations at OAB said, “With Mirsal, we have the necessary tools and information we require to streamline procedures and requirements right from the very moment the order is sent to the moment it is completed. Our new system clearly displays the current order status, completion percentage, and the department implementing it; in addition to speed of completion and total time taken. At OAB we consider our staff our internal customers and aim to offer them fast and high-quality tools to easily accomplish their objectives; and Mirsal is a system that perfectly complements this objective. Its implementation will also in turn have a positive effect on the overall customer service of the Bank.”

Mirsal is an initiative launched by the Banking Operations Department to be applied for all OAB departments and offices across the Sultanate in order to reduce manual work, time consumption, and data errors. The system will also unifies and streamlines work procedures across all OAB branches.

The system will provide decision-makers with accurate figures on all received orders, their number, time of completion, and the amount of work given to each employee. The supervisor, therefore, will be capable of distributing the work evenly as well as easily identify productive employees to reward them.

Mirsal also makes the executive management of the Bank aware of the work completed across all departments and the challenges that obstruct work process. Additionally, it will assist in finding solutions to overcome such obstacles which, in return, will increase productivity and quality.

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