OAB Appoints New Acting Head of Retail Banking Division

Muscat, February 16, 2020: Oman Arab Bank (OAB) has appointed Rashad Al Shaikh as the new Acting Head of Retail Banking Division, as of January 16, 2020. This new initiative is in line with the Bank’s strategy to apply a qualitative strategic approach to Omanisation through a succession plan that aims to develop promising talents in various disciplines.

Commenting on the appointment, Rashad Al Musafir, the CEO of OAB said, “OAB is dedicated to supporting Omani employees by developing their skills and experiences with the aim of providing better career development through strategic plans that are in line with the various banking disciplines. This step is also in accordance with the strategic approach of developing local talents that aim to enhance OAB’s objectives of providing customers with the best possible experiences and services.”

Rashad Al Shaikh holds a B.S. in Business Administration from Central Florida University, Orlando, USA. With over 21 years of experience in banking, and serving a number of senior positions in Retail Banking before joining OAB in 2003. This brings advantages for both OAB and its customers, providing the Bank with experience and innovative ideas to further excel in their ongoing success.

Commenting on the promotion, Rashad stated, “I am delighted to be appointed this new role and I look forward to working with all departments and ensuring the continued success at OAB. I believe this will be best achieved through our various efforts to become an innovative, customer-centric bank.”

Adil Al Rahbi, Head of Human Resources Department, said, “The Human Resources Department at OAB is always keen to recognise individual local talents and support them in the realisation of their career objectives, alongside the provision of support and motivation. We believe that managing talent in an effective way is one of the most important strategic pillars of success. Through this approach, we strive to make Oman Arab Bank the ideal destination for anyone looking for a promising career journey.”

“The Bank’s management policy focuses on the principle of providing persistent and distinguished employees with the opportunity to advance in the career ladder. We conduct several programmes that are designed to prepare them for supervisory and administrative leadership positions,” Al Rahbi added.

This recent appointment is a result of the succession plans that are focused on by the Human Resources Department, which assesses the readiness of Omani staff to carry out greater and more diverse responsibilities through their enrollment in leadership programmes. The programmes are implemented by international experts and also focuses on the development of skills and practical knowledge. Apart from the succession plan, there are also specific strategies and other programmes that focus on providing all employees at all levels within the Bank with the opportunity to further enrich and develop their proficiency and skillsets, to further enhance their career prospects and become future leaders in the banking sector. Moreover, OAB’s talent management strategy aims to apply a qualitative strategic approach to Omanisation, while simultaneously maintaining a diverse and efficient workplace.

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 Lauded as Best Retail Bank in Oman at Banker Middle East Awards

  • OAB won the Best Retail Banking Services and Best Banking Services awards

Muscat, February 11, 2020: Oman Arab Bank (OAB) was recognised for its outstanding banking services with two prestigious accolades at the Banker Middle East Awards. OAB received the ‘Best Retail Banking Services’ (Oman) and ‘Best Banking Services’ (Oman) awards for 2019 for its innovation initiatives, digital banking and high-level customer services. Rashad Al Musafir, CEO of OAB and Adil Al Rahbi, Head of the Human Resources Department at OAB, received the accolades on behalf of OAB.

Commenting on the awards, Rashad Al Musafir said “OAB is honoured to have received these two outstanding awards from the well-recognised and respected Banker Middle East. We have worked tirelessly to become a more customer-centric bank by strengthening synergies with our customers and investing in innovation across all levels of the business to ensure top-notch services. We consider these awards as a benchmark of OAB as well as a testament to the high-quality services that we offer. Receiving this accolade will further motivate us to continue delivering only the best possible services across all of our touchpoints.”

OAB prides itself on being a consumer-centric bank, with services such as OAB life. This platform offers a range of facilities that are vastly beneficial to customers, with an awards points system to allow customers to shop using their points instead of cash, partner offers to provide discounts on a range of shops, facilities and restaurants throughout Oman. Whilst also being the first bank in Oman to launch a digital insurance service. This service has been received extremely well by customers. Alongside this, OAB’s 2018 Customer Care Campaign ensures a customer care manager in each branch, who are responsible for guaranteeing customers have an enhanced banking experience. OAB will continue to provide its customers with innovative and beneficial services, to make their banking easier.

The Banker Middle East Product Awards provides a benchmark for the region’s financial sector, acknowledging the most successful banking solutions, and their pioneering and innovative developments. This year’s edition received 9,200 votes recorded across 51 categories. By winning these two awards, OAB is able to set itself aside from its competitors and continue to work towards becoming a leading bank in the Gulf.

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 Signs Agreement with Majan Lounge

Muscat, February 05, 2020: Oman Arab Bank (OAB) recently signed an agreement with Majan Lounge at the Muscat International Airport. The agreement will see platinum and Elite customers gain access to the newly launched lounge at the airport, which has been prepared to receive customers from January 2020. The signing ceremony took place at the OAB head office, with Rashad Al Shaikh, Acting Head of the Retail Bank Division representing the Bank and Engineer Naif Ali Al Abri, Executive Director representing Oman Airports Ground Handling.

Highlighting the importance of the agreement, Rashad Al Shaikh said “OAB prides itself on delivering services that form an integral part of its key pillars. This agreement with Oman Airports will only further the high-quality services that we are implementing to ensure an unmatched customer experience for all our cardholders. We encourage our platinum and Elite customers to utilise this amenity, so as to be able to have a smooth and laidback experience while they are on their travels.”

OAB customers can show their cards at the lounge reception to gain access. For platinum customers, entry is exclusive to the cardholder only, while Elite cardholders are eligible to have a companion as well.

Naif Al Abri commented, “We are extremely proud to be working alongside OAB for the facilitation of ease and convenience for our customers at Muscat Airports. We believe that this partnership will only enhance our offerings and ensure an exceptional travel experience. We look forward to being a part of similar initiatives that OAB might have in the future, to be able to set Oman apart as a popular travel destination, both in the region and in the world. ”

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

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.

OAB Opens New Flagship Branch in Ibri

OAB Opens New Flagship Branch in Ibri

Muscat, December 30, 2019: In line with its transformation strategy for branches across regions in the Sultanate, Oman Arab Bank (OAB) announced the recent opening of its new flagship branch in Ibri. The customer-centric branch hosts facilities aimed at delivering enhanced bank services with the highest levels of accessibility to customers in Ibri.

The opening took place on December 25, under the patronage of HE Dr Hamad Hamdan Al Rubaiy, Shura representative in the Wilayat of Ibri, and overseen by Rashad Al Musafir, CEO of OAB, alongside the presence of other senior members of the Bank’s management and staff.

Commenting on the launch of the new branch, Rashad Al Sheikh Deputy Head of Group Retail said, “Ibri is one of the rapidly developing residential areas in A’Dhahirah Governorate, comprising of a large number of our customer base. The newly transformed branch will be a welcome addition to cater to their modern banking needs. Together with the branch’s spacious layout and distinct contemporary design, OAB will be able to further enhance customer experience through the provision of personalised levels of service.”

Similar to the previous revamped branches, the new Ibra Branch features OAB’s enhanced brand identity with a refreshed look and feel. 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. These include 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 main area has two tellers and six customer care advisories with a seating capacity for 35 customers.

As with each of the other flagship branches launched so far, this new branch also features a dedicated ‘Elite’ section with its own Majlis. These features will provide the bank’s VIP customers with an exclusive, private, and memorable banking experience befitting the Bank’s Elite Banking Customers.

“As our most recently transformed flagship branch, the Ibri division is a combination of the latest technological advances we have to offer together with distinct branch philosophies. In this way, we can continue raising the bar in enriching customer experience,” Al Sheikh 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.

OAB Conducts SME Workshop in Sur

OAB Conducts SME Workshop in Sur

Muscat, 16 December 2019: In line with its continued efforts to support the development of small local businesses as well as to foster long-lasting partnerships with these companies, Oman Arab Bank hosted an SME Financial Management Workshop for businesses banking with them in Sur.

Commenting on the workshop, Jamal Al Wahaibi, the Head of SME department said, “Building business relationships and establishing long-lasting synergies are a key pillar of our operational strategy at OAB. This is especially true for SMEs since this segment provides a vital contribution towards the country’s diversification efforts. For these reasons, we aim to conduct workshops like these to offer them guidance and maximise their chances for success. This, in turn, helps us build closer and more robust business relationships with them in the long run.”

The SME Financial Management Workshop was held at the Sur Plaza Hotel Hand saw an attendance of over 20 entrepreneurs and staff from several SMEs operating in the Sharqiyah region. The workshop focused on how to manage business finances and provided SME’s with a deeper insight into the various financial products and services available to them, both from the Bank as well as from the government and other financial institutions. It also showcased how to best make use of these tools.

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 investments clients.

OAB Hosts Workshop with Injaz Oman to Support Young Omani Entrepreneurs

OAB Hosts Workshop with Injaz Oman to Support Young Omani Entrepreneurs

Muscat, 24 December, 2019: In line with its corporate social responsibility strategy, Oman Arab Bank (OAB) conducted a workshop with Injaz Oman on Wednesday December 18th.The presentation held at Knowledge Oasis explored why pricing was so important, the different pricing strategies, and business control. The lecture was organised as part of an Injaz Oman initiative, with OAB acting as an industry expert.

Injaz Oman is a non-profit organisation which hosts a range of educational programmes, targeting Oman’s youth to help them develop their entrepreneurial skills, empower them and enhance their financial knowledge and leadership abilities. The underlying aim of these programmes is to prepare the students for the labour market by providing them with skills and encouragement, and thus, in the long-term aiding in the development of Oman’s economy.

Commenting on the workshop, Hilal Al Siyabi, Head of Corporate Communication at OAB, said, “We are thrilled to be working with Injaz Oman on this workshop. At OAB, we understand the importance of developing and diversifying not only our knowledge-based economy but the country’s economy as a whole.”

Throughout the workshop, students learned why pricing is so important to their business and were exposed to pricing strategies, along with other relevant areas to develop students’ business knowledge. The OAB lead seminar exposed students to real-life case studies in Oman in order to give them practical knowledge that can be implemented in their own businesses.

“We aim to educate and inspire the youth of Oman by combining theoretical learning with real-life applications to aid students with the development of their businesses. By partnering with OAB, we give students the opportunity to learn from today’s challenges and provide them the tools to develop their business and contribute to Oman’s economy,” stated Azzan Al Busaidi, Operations Manager in Injaz Oman.

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 Names another 119 Winners in November Hasaad Draw

Muscat, December 22, 2019: In line with its efforts to inculcate a habit of saving amongst its customers, Oman Arab Bank (OAB) recently announced the names of 119 winners in its November Hasaad draw. These winners included 87 winners of the monthly branch draws of OMR 500 each, 10 winners from the Bank’s Children’s account and 20 from the Bank’s Youth Holders of OMR 100 each, and two winners of the monthly Elite Draw of OMR 10,000 each.

Commenting on the new programme Rashad Al Shaikh, Deputy Head of Retail Banking at OAB said, “This month marks our second-last Hasaad Savings Scheme before it comes to an end with the December draw, which will take place in the first half of January 2020. The November draw brings our total winner count for the year to 1,450. We hope to make 2019 one of the most memorable years for our Hasaad customers.”

The Hasaad Savings Scheme 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 which will see 87 lucky winners, a minimum of one winner in each branch, of OMR 500 monthly and OMR 1,000 each every quarter; ten winners of OMR 100 each for Children’s account holders aged 18 and below; 20 winners of OMR 100 each for Youth account holders aged between 18 and 24 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 100,000 for one lucky Elite customer in 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.

“On behalf of the OAB, I would like to congratulate all the winners of our November draw. Furthermore, I encourage all our customers, who did not win this month, to continue saving so as to maximise their chances of winning. I wish all of them the best of luck in the upcoming end-of-the-year draw,” Rashad Al Shaikh added.

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 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 Wins Citibank’s ‘Straight Through Processing’ Excellence Award 2019

Muscat, 10 December 2019: Oman Arab Bank has received the ‘Straight Through Processing’ (STP) excellence award for 2019 from Citibank. This is the second consecutive year the company has earned this award for excellence in its efforts in conducting international payment services. Now in its 14th year, the Citi Excellent STP Award programme is one of the most prestigious awards to honour financial institutions and banks that possess state-of-the-art international payment services with highly qualified international transactions.

Commenting on the award, Mahfoudh Sultan Al Rawahi, the Head of Branches Central Operations at OAB said “We are honoured to receive this prestigious award for the second consecutive year, reaffirming OAB’s position as one of the leading banks in the Sultanate. At OAB we pride ourselves on being a consumer-centric bank, therefore, we ensure the most efficient services by adopting the best international practices, and guarantee the accuracy of our electronic payments. We believe this award stands as a testament to our dedication towards achieving the highest STP rates.”

OAB was presented this award at their head office by Mohsin Al Mahdi, Director of Correspondent Banking Group. Mahfoudh Al Rawahi received the award on behalf of OAB, alongside members of the staff from the Bank’s Central Operations departments were also in attendance.
The award was presented to OAB as a recognition of the quality and accuracy payments sent by OAB, wherein the Bank maintained an outstanding 95% modification-free rate for the bank’s remittances in USD.

“Our instant and simple transfers using STP ensure the best customer experience. OAB will continue to focus on providing the highest global standards in managing our processes, people and service delivery, for our continued success in both our remittances, alongside our retail and commercial products and services, reinforcing our position as one of the leading STP Banks within the Sultanate” Al Rawahi 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 investments clients.

OAB Signs Agreement with Oman Credit and Financial Information Centre

Muscat, 3, December 2019:  Oman Arab Bank recently signed a membership agreement with Oman Credit and Financial Information Centre at the Bank’s head office. The agreement will enable the Bank to have access to enriched customer data for credit decisions including credit scores.

Commenting on the signing, Asma Al Zadjali, Head of the Banking Operations Group, stated, “This partnership with the Credit and Financial Information Centre, as a credit bureau, will help Oman Arab Bank and the entire Financial Services Industry with the provision of the most appropriate data for making the right credit decisions. The quality of the data provided by the bureau, along with the level of automation in the systems implemented, will help Oman Arab Bank to take prompt and right decisions, enabling us not only to provide faster and efficient service to our customers but to also enhance productivity internally.”

Oman Credit and Financial Information Centre is an affiliated Centre of the Central Bank of Oman established according to the Royal Decree No. 38/2019. A credit bureau is an integral part of a risk management system of any country. Up-to-date information provided in a CBO’s credit information report (CIR) provides insight into the credit behaviour of the borrowers and helps banks and financial institutions assess their existing and prospective borrowers in a correct and convenient manner.

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.