OAB Launches New Digital Platform for Donations through its Mobile App

  • Customers can choose the association and the amount and donate with a single press of a button

Muscat, May 4, 2020:In line with its efforts to enhance its digital offerings and on the occasion of the holy month of Ramadan, Oman Arab Bank has launched a special platform dedicated to providing donations through the OAB app. Customers who wish to donate can select their preferred association and the amount, and donate through their mobile phones.

Commenting on the importance of launching the new digital platform, Hilal Al Siyabi, Head of Corporate Communications at Oman Arab Bank, said “We have decided to launch this initiative to offer our customers an opportunity to donate money utilising a quick and easy solution. We host several charitable associations on this platform and all that our customers have to do is select the relevant association they want to support and the process will be completed in a few seconds”.

“We currently have a number associations and civil society organisations from various fields, including Dar Al Atta’a, Al Noor Association for the Blind, Association of Early Intervention for Children with Disability, Environment Society of Oman, Takaful Social Account (related to the Ministry of Social Development) and the COVID-19 account from the Ministry of Health. Attendance is open to all organisations working in the social sector and we are in contact with most of them, so as to provide them with an opportunity to be a part of this advanced platform,” Hilal 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 Launches ‘The Online Learning Hub’, Oman’s First Interactive Learning Platform with a focus on Innovation, Technical Skill-Sets, Personal Development and Career Success

  • This initiative will help students and budding entrepreuners to use their time to enhance their skillsets and accelerate their personal and professional growth.

Muscat, April 27, 2020: Oman Arab Bank (OAB) has announced that it is developing a first-of-its-kind interactive digital learning hub in the Sultanate. The learning platform is developed to upskill the youth and to prepare them for the job market in the future.

The Learning Hub will launch on the 4th of May 2020, with a comprehensive set of workshops that are focused on accelerating students and entreperuners’ personal and professional growth and delivering the skills, competencies, tools and metrics needed to drive growth and value in their careers and businesses. The learning platform will focus on various topics, including design thinking, innovation, business model canvas, the latest trends in technology, leadership development, self-development, and much more.

Commenting on this unique initiative, Adil Al Rahbi, the Head of Human Resources Division at OAB, shed light on the role that these new initiatives play in bridging the gap between traditional learning methods and the requirements of today’s job market, by providing students with an opportunity to develop their skills and, in turn, strengthen their future employment prospects. “We wanted to offer Oman’s youth access to an interactive online learning community, regardless of the sustained impact of COVID-19; with an opportunity to aquire the skills they need, share knowledge, and unlock their full potential so that they can excel and thrive in the future. The interactive online workshops will see a much more hands-on experience and breaks away from the traditional theoretical curriculum. ” Al Rahbi added.

Leen Al Atassi, Head of Innovation at OAB, added, “We’ve designed The Learning Hub to support and empower students and budding entrepreuners to learn new skills, understand core concepts that can sharpen their ability to apply the latest innovation concepts, and have the confidence to take on new challenges. We have collaborated with some of our key strategic partners to deliver these programmes, including GBM, IDO, and Phaze Ro. The interactive workshops will focus on design thinking principles, enablers of innovation, critical reflection analysis, the business model canvas, turning an idea into a proof of concept, new trends in technology, pitching to potential investors and many other topics that would help people navigate this evolving landscape.”

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.

Oman Arab Bank announces Green Light on the Merger Project with Alizz Islamic

Muscat, April 21, 2020: Today, Oman Arab Bank announced that it has received the approval of the Central Bank of Oman on the proposed merger with Alizz Islamic Bank. The negotiation of this project began late last year.

The merger which is expected to be complete before the end of this year will result in the transformation of Alizz Islamic Bank SAOG into a closed joint-stock company SAOC. It will see the transfer of its full ownership to Oman Arab Bank as a subsidiary specialising in Islamic banking, alongside the transfer of assets, rights and obligations of Al Yusr Islamic Banking, a window of Oman Arab Bank, to Alizz Islamic Bank SAOC. Moreover, Oman Arab Bank will be transformed into a public joint-stock company.

Rashad Al Musafir, CEO of OAB, confirmed that the proposal received the approval of the Central Bank of Oman and that it is set to start moving forward to obtaining the go-ahead from the Capital Market Authority and other relevant regulatory bodies. He also indicated the confidence of the Board of Directors in the future of the national economy and the need to promote local investments from the private sector, to drive growth during the upcoming period.

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 Supports E-learning Initiative for Students with Special Needs

Muscat, April 21, 2020: In line with its social responsibility objective, especially with the spread of the Coronavirus and its effects on the suspension of study until further notice, Oman Arab Bank (OAB) announced its sponsorship of a e-learning new initiative. This is aimed at providing educational content for 450 students from 17 schools, specialised in providing education for students with special needs.

Commenting on the bank’s sponsorship, Hilal Al Siyabi, Head of Corporate Communication said, “The suspension of schools and institutions was a necessary step to limit the spread of the Coronavirus COVID-19, but this does not mean that our children will stop studying completely. Therefore, we have sponsored this special programme that employs the latest technology to serve a very important segment of society and help students receive education in an interesting and beneficial way, from the comfort of their home. We are confident that this programme will help students prepare well for their end-of-year exams. Furthermore, our support of this initiative is in line with our vision of playing a sustainable role in society as a financial institution, with social activity also being an integral part of our business activities.”

This e-learning initiative was launched in cooperation with Al Roya Newspaper and the Ministry of Education, with exclusive sponsorship from Oman Arab Bank. It will also provide visual lessons on electronic platforms for students with special needs. It was launched on Thursday, April 16, and will continue until the end of the current semester. The curriculum will include several major subjects, including Arabic, Mathematics, Social Studies and Islamic Education, as well as awareness materials on the emerging coronavirus (COVID-19), using the sign language and audio recordings via the Broadcast service.

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 App Allows Customers to Remotely Donate to MoH Account

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

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

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

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

  • 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

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.