OMAN ARAB BANK APPOINTS RASHAD AL-MUSAFIR AS DEPUTY CEO

Muscat, July 13th 2016 – Oman Arab Bank (OAB) announced the appointment of banking and finance expert Rashad bin Ali Al-Musafir as Deputy Chief Executive Officer, effective August 14th 2016. An experienced banker and seasoned professional, Al Mussafir will work closely with the Bank’s Chief Executive Officer, Amin Al Husseini and his leadership team, to realize the Bank’s strategic ambitions . ‎

On the occasion, Rashad bin Mohammad Al Zubair, Chairman of the Board, Oman Arab Bank, commented, “Oman Arab Bank has always been committed to hiring and developing talented Omani professionals across all functions and departments especially senior leadership roles. We are pleased to welcome Rashad Al Musafir on board to our growing team and we are confident that his management experience will prove invaluable in further strengthening the Bank  and enhancing customer service.”

Amin Rasheed Al Husseini added, “I am delighted to welcome Rashad Al Musafir to Oman Arab Bank and look forward to working hand-in-hand with him to ensure we continue to provide innovative banking solutions to our valued customers. His established track record and in-depth experience will prove invaluable in further strengthening the Bank’s franchise and improving shareholder value in addition to his ability to manage risks in challenging conditions while delivering growth with the guidance and support of its shareholders; Ominvest and the Arab Bank Group.”

Rashad bin Ali Al-Musafir, said, “I am excited to join Oman Arab Bank and be part of a great institution that has a long standing history in providing customers in the Sultanate with a unique and far-reaching banking proposition. I am looking forward to working together with the executive management team to continue taking the Bank from strength to strength .

With 20 years of industry experience and knowledge in running and managing high-profile profitable operations, Rashad joins OAB from Bank Sohar where he worked for almost 10 years in various leadership positions the most recent once being Acting Chief Executive Officer, Chief Financial Officer and Acting Head of Compliance. Prior to that, Rashad worked with Al Madina Gulf Insurance, Oman International Bank and the Central Bank of Oman. A Cleared Certified Public Accountant (CPA); he holds a Bachelor of Arts in Economics and Finance from Boston University and completed the reputable Harvard Business School General Management Program.

OAB was established in 1984 following the acquisition of Arab Bank’s branches in the Sultanate. For over 30 years, Oman Arab Bank (OAB) has been an active contributor to the Sultanate’s ongoing growth and development by offering customers and organizations of all sizes innovative solutions complemented by local and international expertise. Today, OAB provides a comprehensive suite of products and services in Retail banking, Corporate and Project Finance, Investment Banking, Trade Finance and most recently, Islamic Banking. The Bank has provided financing for setting up major projects in Oman that have a wider economic impact including power generation, water desalination, aviation and infrastructure to name but a few.

The Bank’s principal shareholders are Oman International Development and Investment Company SAOG (51%) and Arab Bank PLC (49%).

17 LUCKY PEOPLE WIN BIG WITH OMAN ARAB BANK’S HASSAD SAVINGS SCHEME

Muscat, July 14th 2016 – Rewarding its valued customers like never before, Oman Arab Bank (OAB) recently distributed 157,500 OMR to the 17 lucky winners of its Monthly, Elite and Eid Al Fitr Hassad Savings Scheme draws. Unveiled in January 2016 to encourage personal savings, the Bank has provided more than 72 customers with a total of 420,000 OMR cash prizes since the beginning of the year.

The heirs of S.S. Al Harthi were unveiled as the lucky winners of OAB’s prestigious Elite prize, winning a total of OMR 100,000. Meanwhile, Nasser Al Jabri from Al Amrat branch collected the OMR 40,000 Regional Prize for the month of June.

The rewards also extended to reach five female account holders and five young savers under the age of 18, who were each rewarded with OMR 1,500 and OMR 1,000 respectively. Additionally and as part of OAB’s Eid Al Fitr draw, five lucky accounts individually winning OMR 1,000.

Hana Al Hinai, Assistant General Manager, Head of Wealth Management, Bancassurance and Liabilities at OAB, expressed: “On behalf of OAB, I would like to congratulate our 17 winners. With Hassad, we continue to reward our loyal customers by giving them the opportunity to win big as an added benefit to saving for the future. Our customers have plenty to look forward to with an upcoming super draw offering two people the chance to win OMR 50,000 each and a mega prize of OMR 100,000 exclusively for Elite Priority Banking.”

Under the Hassad Savings program, all OAB Hassad Account Holders are automatically entered into prize draws by simply maintaining a balance of OMR 100 or more. In addition to its monthly cash prizes, the Bank has more bonus draws lined up for its customers with special prizes set to be distributed on Omani Women’s Day and the 46th Omani National Day.

OMAN ARAB BANK INTRODUCES INNOVATIVE INSURANCE PRODUCTS FOR COMPLETE CUSTOMER PEACE OF MIND

Muscat, July 19th 2016 – Oman Arab Bank (OAB) has signed an agreement with the Sultanate’s most trusted insurance company, National Life & General Insurance company, to introduce six new Bancassurance products to OAB customers.

Speaking at the signing of the agreement, Fahd Amjad, General Manager Retail Banking at Oman Arab Bank said, “These new additions to the fast-growing Oman Arab Bank range of outstanding products and services have been expertly developed in collaboration with insurance experts at National Life Insurance. We are committed to the evolving needs and expectations of our valued customers, supporting their ambitions and plans, and building a relationship with them based on trust and reliability. Carefully tailored to provide optimal levels of cover and protection for every possibility, they provide complete reassurance for the policy-holder, allowing them to rest easy in the knowledge they will be well-taken care of in every eventuality.”

Transparent and affordable, the newcomers to the burgeoning Oman Arab Bank portfolio of leading customer-focused products and services are currently available at Oman Arab Bank branches in the Muscat and Batinah region and will expand all other regions across the sultanate in the next coming months.

Hanaa Al-Hinai, Assistant General Manager, Head of Wealth Management, and Liabilities & Bancassurance said, “Caring for our customer’s needs as well as protecting their homes, families and health is a priority for Oman Arab Bank. We have carefully designed six products that cater to our customer needs in terms of Motor, Home, Medical, Personal Accident, Travel and Critical insurance. Dedicated insurance specialist are available at selected branches across the sultanate and offer our customers professional expert advice to our customers regarding their protection needs.”

Ever since OAB was established in 1984, the Bank has been working diligently to serve its customers and over the last 32 years has introduced a wealth of ground-breaking products and services. Today, OAB operates over 65 branches across the Sultanate providing innovative Retail, Corporate, Project, Investment, Trade and, most recently, Islamic Banking solutions.

OMAN ARAB BANK AND OMINVEST SOCIAL INVESTMENTS REACH ROYAL HOSPITAL WITH NEW PLAYGROUND

Muscat, August 24th 2016 – As part of their shared commitment to giving back to the communities they serve, Oman Arab Bank (OAB) and Oman International Development and Investment Company (Omnivest) have funded the construction of a children’s playground at the Royal Hospital in Muscat. Promoting positivity and hope, the playground will create a lasting legacy for children and provide a safe area for them to exercise and play while their families seek treatment.

Mutassim bin Hamoud Al-Zadjali, Head of Corporate Communication at Oman Arab Bank, said, “From the onset, Oman Arab Bank has been a firm believer in the importance of positively impacting communities across the Sultanate through adopting and launching various corporate social responsibility initiatives and activities.  The new playground will undoubtedly make a great addition to the Royal Hospital and create an environment where children can remain entertained while their families visit the hospital.”

Hamid Al Harthi, Head of Support Services at Ominvest, added, “As part of its Corporate Social Responsibility agenda, Ominvest and its subsidiaries are committed to empowering and nurturing communities by supporting various foundations. We are happy to provide a safe and fun playground for children at Royal Hospital, especially that it’s the first initiative of its kind where children would enjoy their time while their parents are engaged in the hospital visitations. Families visiting the hospital will now enjoy the new experience of fun for children and parents. We are reviewing other fun options to be added to this playground for more enjoyment.”

OMAN ARAB BANK LAUNCHES “LEAD” FIRST-OF-ITS-KIND EMPLOYEE LEADERSHIP PROGRAM

Muscat, September 6th 2016 – As part of its commitment to developing the industry’s future leaders, Oman Arab Bank (OAB) recently launched a talent development program entitled ‘Leadership Enhancement  and Development’ (LEAD).  LEAD is unique and specialized leadership training that aims to cultivate the talents of high potential Omanis with guidance from international experts. The six month program has been designed to utilize best practices in order to empower participants with opportunity, managerial expertise, and high-level workplace solutions.

Amin Al Husseini, Chief Executive Officer, Oman Arab Bank, commented, “Developing the skillsets of Omani talent and enriching their lives with the tools they need to achieve their career aspirations is at the heart of everything we do. Since our inception, Oman Arab Bank has demonstrated its dedication towards aiding the professional growth of the Sultanate’s national workforce by creating environments that enable them to thrive and be all they can be. The LEAD program was inspired by OAB’s vision and will provide our young and highly motivated Oman Arab Bank family members with a first-of-its-kind opportunity to develop their well-rounded skills, learn from the best, and position themselves to be agents of change.”

Adil A. Al Rahbi, Head of Employee & Organizational Development, explained, “LEAD is truly a quantum leap in capacity building. The initiative will tremendously accelerate the training and development of the Bank’s next generation of leaders. The six month program has been divided into four, two-day modules with participants undergoing extensive leadership training to hone their expertise and develop the know-how required to spearhead their growth.”

Al Rahbi added, “20 employees have abeen selected from a large number of our finest mid-level staff after an online 360 degree evaluation. Participants that have been selected will now continue into their first modules, where they will work side by side with some of the best motivational instructors specialized in leadership development.”

“The program is a major breakthrough for OAB and our succession planning objectives and those who were not selected to participate in LEAD need not worry as it is the first of many new opportunities to come,” Al Rahbi concluded.

LEAD has been designed in cooperation with Inspirational Development Group (IDG), and will be facilitated by a team from IDG, a global leadership and management performance consultancy. The company has channeled 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.

Gerry Woods, Regional Director Middle East, IDG, said, “IDG is delighted to be working with Oman Arab Bank to deliver a challenging and thought-provoking LEAD program. LEAD represents a strategic investment in OAB staff capabilities and delegates will be equipped with enhanced leadership behaviors that will ensure effective people development in the coming years. The top delegates will attend the Royal Military Academy Sandhurst as the culmination of the IDG program before embarking upon ongoing personal development plans. LEAD underpins an exciting continuous improvement agenda for people within OAB and the Bank is commended for such an ambitious and rewarding commitment.”

It is worth noting that at the end of the program, participants will be on track to take on leadership positions within the Ban  and advance their career to contribute in furthering the Bank’s success in creating a pool of talented employees. This falls in line with OAB’s objective of preparing and supporting the Sultanate’s national workforce. Today, OAB is proud to have a 94% Omanization rate.

HASSAD FROM OMAN ARAB BANK REWARDS 11 MORE CUSTOMERS FOR SAVING

Muscat, September 20th 2016 – Rewarding customers for saving, Oman Arab Bank (OAB) announced the 11 lucky winners of its Hassad Savings Scheme Draw for the month of August. Akbar Ali Hassan from the Samail branch became the latest winner of the monthly Regional Prize, walking away with OMR 40,000 while five lucky female account holders and five young savers each received OMR 1,500 and OMR 1,000 respectively.

Hanaa Al Hinai, Assistant General Manager, Head of Wealth Management, Bancassurance and Liabilities, said, “I would like to offer my congratulations to our 11 monthly winners. Hassad was designed to encourage a culture of saving and help our customers fulfill their aspirations. The response we have received has been massive as Hassad has successfully brought a unique and fun experience to our valued customers, rewarding dozens of lucky savers across Oman with over OMR 500,000 since the beginning of 2016.”

Customers who maintain a minimum balance of OMR 100 at the end of the month are eligible for the draw. OAB still has more than OMR 400,000 in cash up for grabs until the end of the year including the OMR 100,000 that has been earmarked exclusively for Elite customers in December. Additionally, upcoming draws also include special events celebrating Omani Women’s Day and the 46th National Day.

OMAN ARAB BANK CELEBRATES WITH ITS FEMALE WORKFORCE

Muscat, October 17th 2016 – Oman Arab Bank held its annual Omani Women’s Day celebration at its Ghubra Head Office this week in recognition and appreciation of the extraordinary contribution made by its outstanding female employees to all aspects of its activities and operations. Attended by female employees and other staff members management, the celebratory event welcomed OAB CEO Amin Al Husseini and Deputy CEO Rashad Al Musafir as guests of honor.

Expressing his pride in the women of the OAB Team and thanking them for their exceptional efficiency and achievement, CEO Amin Al Husseini said: “At OAB we believe that our motivated and enthusiastic female talent are at the heart of our continued success and growth, helping us build a heritage of trust over three decades.”

“Following the wise guidance of His Majesty Sultan Qaboos, OAB plays a proactive role in creating an environment in which our female employees can flourish and achieve their professional goals and ambitions. We foster their talents across all functions, departments, and branches and ensure that they have access to training programs to enhance their skillsets and develop future leaders,” he added.

OAB Deputy Chief Executive Officer, Rashad AlMusafir commented: “It is a great pleasure once again to gather with colleagues and celebrate Omani Women’s Day. In doing so, we acknowledge and honor the important contribution women are making to the legacy of OAB, to the banking sector in general, and to the development and diversification of Oman’s economy, helping create a prosperous future for generations to come.”

An equal opportunities employer with the strategy of becoming Oman’s ‘employer of choice’, the percentage of the females working in Oman Arab Bank is close to 40% of its entire taskforce. The Bank is committed to creating a positive professional environment based on a culture of teamwork, supporting and rewarding employees as they achieve excellence in their positions and progress in their careers in the 65 OAB branches across the Sultanate.

11 MORE LUCKY SAVERS WIN BIG WITH OMAN ARAB BANK’S HASSAD SAVINGS SCHEME SEPTEMBER DRAW

Muscat, October 23rd 2016 – Spearheaded by its dedication to help customers achieve financial prosperity, Oman Arab Bank (OAB) announced the 11 lucky winners of its Hassad Savings Scheme Draw for the month of September. M.S.H. Al Hajri from the Al Sharqiyah North Governorate walked away with OMR 40,000 as the latest winner of the monthly Regional Prize, while five lucky female account holders and five young savers each received OMR 1,500 and OMR 1,000 respectively.

Congratulating all of Hassad Savings Scheme winners, Hanaa Al Hinai, Assistant General Manager, Head of Wealth Management, Banassurance and Liabilities, said, “Hassad was expressly designed to help foster a culture of saving and reward our customers with a unique opportunity to win big and fulfill their dreams. The response we have received from customers has been immense and we look forward to rewarding even more through this initiative.”

All OAB customers with a minimum balance of OMR 100 at the end of the month are automatically entered into the draw. Entering the final stretch of the year, the 2016 Hassad Savings Scheme still has plenty to offer savers, with more than OMR 300,000 in cash up for grabs including its super draw at the end of the year, which will offer two customers the opportunity to win OMR 100,000. Additionally, the Bank is organizing an exclusive Elite Draw for OMR 100,000 in December alongside other special draws in celebration of the upcoming Omani Women’s Day and the 46th National Day.

OMAN ARAB BANK PARTNERS WITH TANFEEDH

Muscat, 31st October 2016 – Underlining its dedication to the continued progress and prosperity of the Sultanate, Oman Arab Bank was the proud partner of the ceremony held to mark the conclusion of the second phase of the National Programme for Enhancing Economic Diversification, Tanfeedh

A core element of Oman’s Ninth Five-Year Development Plan, Tanfeedh is of significant national importance. At this point of the plan, the discussion and consultation stage, domestic and international public and private sector experts were brought together in a six-week long series of intensive discussions to contribute to the country’s strategy of economic diversification and growth.

“It is a privilege to partner with Tanfeedh, a propitious and productive initiative, and an important milestone as the Sultanate moves forward with its strategy of broadening and diversifying the economy,” remarked OAB CEO Amin Al Husseini.

He added: “Committed to supporting Oman’s national development, OAB is working steadfastly with partners in the government and private business community to promote Oman as an attractive and viable investment haven. Furthermore, as the Sultanate’s leader in SME finance, we help entrepreneurs and small businesses across the country achieve their ambitions and fulfill their role as engines of job creation.”

Over the last three decades, OAB has contributed to the Sultanate’s economic strength through the financing of major infrastructure, construction and development projects in areas including hydrocarbons, transport, logistics, energy, and health. The Bank actively engages with the international community to promote Oman as a trade and investment partner and offers a range of proven trade finance solutions. Addressing the needs of Oman’s all-important SMEs and start-ups, it has created a range of innovative financial products headed by the new TOMOUHY portfolio of services which includes working capital finance, term loans for capital expenditure, contracts and equipment finance, import and export finance.

Today, OAB operates more than 65 branches and offices, and more than 135 ATMs in high footfall locations across the Sultanate that are supported by Arab Bank’s 600 branches spanning five continents. 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).

OMAN ARAB BANK UNVEILS NEXT GENERATION ATM BANKING EXPERIENCE

Muscat, November 2nd 2016 – Continuing to lead the Sultanate in the use of banking technology and presenting a new level of convenience for its customers, Oman Arab Bank (OAB) has introduced APTRA™ Activate, the world’s most advanced self-service software, to its nationwide network of ATMs. The first bank in Oman and the third GCC bank to use this cutting-edge solution, OAB Bank takes pride in meeting the needs of its customers in the best and most innovative ways possible.

With attractive easy to use touch screen animation, a variety of hi-speed and highly secure OAB ATM services are now possible thanks to APTRA™ Activate. These include making local and international transfers as well as credit card payments; paying utility, mobile and internet bills; requesting instant e-statements and balances on accounts, loans and credit cards; and updating mobile contact numbers.

“One of the Sultanate’s most popular methods of day-to-day banking, OAB ATMs serves customers 24 hours a day, seven days a week and as such are a pivotal part of how our customers manage their personal financial transactions. Equipped with this state-of-the-art programme, our ATMs now not only accommodate the broadest possible range of services but also reflect the exemplary standards the bank endeavors to deliver in its comprehensive branch network spread across the country,” noted Fahd Amjad, GM of Retail Banking.

Jamil Abdulqader Al Zadjali, OAB AGM – Head of Digital Banking added, “With a focus at all times on providing the most convenient, safe, and reliable services, OAB has always fully embraced the use of technology. As a result, we offer straightforward and consistent interactions across online, mobile, ATMs, and branches in a seamless multi-channel approach, responsive to our customers’ changing needs, expectations, and preferences. And by implementing this game changing software we are proud to have placed our valued customers once again at the forefront of banking innovation.”

A pioneer of technology in Oman’s burgeoning banking sector, OAB has harnessed its rich possibilities to implement financial solutions that complement today’s modern lifestyle, and create the best possible experience for customers as they connect, interact and transact.