OAB Organises Awareness Workshop on Pandemic Updates for Staff

  • Held in collaboration with the Royal Hospital

Muscat, April 7, 2021: In light of the current rise of COVID-19 pandemic cases and with the aim of generating awareness among staff on the developments of the pandemic and methods of dealing to deal with it, the Human Resources Division at OAB organised a virtual workshop on Tuesday, April 6. Conducted in collaboration with the Royal Hospital, the workshop highlighted the new COVID-19 variants, which has led to the spread of the new wave during the last few weeks. These developments have brought about the need to be prepared to deal with the new strain, while simultaneously continuing to adhere to preventive measures to reduce the spread and risk of infections.

Commenting on the importance of holding the workshop, Adil Al Rahbi, Head of Human Resources Division at OAB, said, “With the upcoming developments taking place, it has now become vital for people to think proactively. Therefore, we decided to conduct this workshop, which is also a part of the Wiqaya programme, launched by the Human Resources Division since the onset of the pandemic, which includes several preventive measures that have been taken to reduce the risk internally within the Bank.”

“The workshop sheds light on the precautionary measures that must be followed at the Bank to prevent the spread of infection. It also provided an overview of the available vaccines, the types and differences as well as its relevant benefits in providing immunity from the infection in the future,” he added.

The workshop was organised through the virtual platform, Zoom, keeping in mind the recent directives of the Supreme Committee. The Bank invited Dr. Badria Rashid Said Al Waili, Pediatric Infectious Disease Consultant at the Royal Hospital, to enlighten the employees about the recent updates of the pandemic and discuss other related topics. The workshop was attended by hundreds of employees from the different departments at the Bank, as well as from its 54 branches across the Sultanate.

“I would like to extend my utmost thanks to the employees of the Royal Hospital for their cooperation in the organisation of this workshop for the Bank’s staff, to help generate awareness of the current developments, as per the latest official information. I would like also to thank them for taking the time to answer all the questions and enquiries that our employees had, which is a reflection of their eagerness in providing every means of support that is focused on combating the pandemic at various levels,” he concluded.

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 54 branches and representative offices and 160 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

OAB Concludes its First-ever Virtual Innovation Hub in the Sultanate

  • Team ‘DivyIT’ were the winners in the student category
  • Team ‘Ebina’ won in the Fintech/professional category
  • Team ‘Digital Artist’ achieved first place in the OAB Staff category

Muscat, April 5, 2021: Upon the completion of the 24-hour virtual hackathon, Oman Arab Bank (OAB) announced the final results of the Innovation Hub 2.0, which was organised virtually, for the first time in the Sultanate. The hackathon saw the participation of over 550 participants, who were divided into three categories, students, Fintech/professionals and OAB employees. Each of them had to present innovative solutions under the three main themes; Fintech,  tourism,  and cybersecurity.

Commenting on this event, Rashad Al Musafir, CEO of OAB, said, “Each of the participants showcased immense passion for innovation and were eager to take part, despite the circumstances. We are extremely proud of their determination and innovative spirit. I strongly believe that many of the participants will play a significant role in shaping the future of the banking sector in the Sultanate. We, are delighted to pave the way for them to in shape the future.”

The virtual Innovation Hub 2.0 kicked-off at 12 pm on Friday, April 2 and continued until 5 pm on Saturday, April 3, with the names of the winners being announced by the judges at the event. Team ‘DivyIT’ achieved first place in the student category, winning a cash prize of OMR 2,500, an innovation internship programme at the Bank and the opportunity to be employed by the Bank in the future. In the Fintech/professionals category, team ‘Ebina’, came in first place and won a OMR 2,500 cash prize as well as an opportunity to potentially collaborate with the Bank to implement the solution. The OAB Staff winners was team ‘Digital Artist’, which included four employees from the Retail Banking Division. They were awarded a cash prize of OMR 2,500 and will be able to join the Innovation Lab to work on their innovative ideas.

Leen Al Atassi, Head of Innovation at OAB said, “The competition was intense, but we were truly amazed by the talent, passion for innovation and the immense potential that our  youth and young professionals demonstrated during the 24-hr challenge. We were also very pleased to see  the number of participants increase every year, which gives us a lot of motivation and determination to continue to run these platforms. I would like to thank all our participants for joining the virtual Innovation Hub hackathon this year, and we are looking forward to working closely with the winning teams over the next few months to bring their ideas to life in our newly established Innovation Lab, but most importantly we are looking forward to hearing more about the participants’ innovation journeys after the hackathon.”

“I would also like to thank the judges, our strategic partners including GBM, Visa, O Cert, Talabat, Phaze Ventures and Phaze Ro, as well as everyone involved in making the Innovation Hub hackathon a great success. For those of you who did not win, we would like to encourage you to continue working on your ideas and present them once again at the next edition of the Innovation Hub. We at OAB will continue to be a part of your journey in empowering you in your efforts to shape the local banking sector, in the years to come. Wishing you all the best and look forward to seeing you once again at the Innovation Hub 3.0,” Leen added.

The first Innovation Hub was launched successfully in 2019 and saw the participation of more than 350 participants across 70 teams. Nine of the participating students joined the Bank’s innovation internship for a period of 6 six months and four students were offered employment opportunities at OAB.

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 54 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services through its OAB Online App. Customers can now digitally open an account and benefit from several other services, directly from the convenience of their mobile phones.

OAB Announces Winners of its May Hasaad Savings Draw

OAB Announces Names of Winners of its Hasaad Savings Scheme for February

Muscat, March 30, 2021: Oman Arab Bank announced the results of the first draw of its Hasaad Savings Scheme for 2021. 101 customers won prizes of OMR 500 each, alongside 5 winners of OMR 1,000 each from the salary transfer segment. As for Elite account holders, two customers won OMR 10,000 each from the Barka and Al Qurum branches.

Commenting on the launch of the new scheme, Rashad Al Shaikh, Head of the Retail Banking Division at OAB, said, “We are delighted to see a huge number of our customers continue to save, especially given the prevalent conditions. This way, they can ensure that they have a form of finance to rely on, for themselves and their families. As always, we strive to reward them for their efforts towards saving with an array of exciting benefits every month and giving them a greater chance of winning by having them save more.

The Hasaad Savings Scheme 2021 will see 101 lucky winners each month from the 54 branches winning OMR 500 each, as well as 5 winners of OMR 1,000 each, from those who transfer their salaries to Oman Arab Bank. This is in addition to a Big Prize draw which will see two winners of OMR 10,000 each, every quarter.

The Elite Draws will see two winners every month of OMR 10,000 each. This is replaced by an Elite grand prize draw conducted every three months with one lucky winner of OMR 25,000.

“I congratulate all the winners of the February Hasaad Savings Draw and wish the rest of our valued customers the best of luck for the rest of the upcoming draws, which will take place over 2021. I would like to encourage them to continue saving so that we can enable them to build a savings culture for their own benefit and a better future.”

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 54 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services through its OAB Online App. Customers can now digitally open an account and benefit from several other services, directly from the convenience of their mobile phones.

OAB Organises Financial Management Workshops for SME’s

  • A number of members from the Omani Women Association in Muscat were in attendance.

Muscat, March 21, 2021: Oman Arab Bank (OAB) recently organized a financial management workshop for 20 female entrepreneurs, who are members of the Omani Women Association in Muscat. The workshop was conducted as part of the Bank’s strategy to encourage financial inclusion, support local enterprises and provide them with the necessary guidance and counselling, to enhance their capabilities in managing their businesses and finances effectively.

Commenting on the workshop, Jamal Al Wahaibi, Head of Corporate and Institutional Banking Group, said, “The SME sector is one of the most important segments that contribute to both economic growth and employment. Therefore, it is vital that support be provided to them in every way possible. The workshop is designed to enhance the abilities of these business owners and to make sure they are effectively optimising and utilising their resources. This way, they can ensure business continuity by controlling cash flows, which is a critical factor for long-term stability. Through the workshop, we seek to address the challenges faced by SMEs and enable them to grow sustainably by capitalising on available tools to achieve further success and development.”

The workshop was held on March 18 at the OAB headquarters in Ghubrah and saw an attendance of over 20 female entrepreneurs, who are members of the Omani Women Association in Muscat. They were given insight into the latest methods of financial management, including working capital, managing cash flows, methods to control them and the ability to measure it over the stages of project growth. The workshop was conducted by Mohammed Zadjali from the Capital Market Authority and overseen by the Bank’s SME team.

“As the government continues to act on and develop the country’s economic diversification strategy, SMEs will continue to play a key part in its implementation. With OAB being one of the oldest banking institutions in the country, we have vast expertise when it comes to best practices related to financial management. Moreover, it is our responsibility to enlighten startups with this knowledge to support them in their journey towards growth and expansion,” he 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 54 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services through its OAB Online App. Customers can now digitally open an account and benefit from several other services, directly from the convenience of their mobile phones.

OAB Announces Winners of its May Hasaad Savings Draw

More than 100 Winners in the First Draw of the OAB Hasaad Savings Scheme for 2021

Muscat, March 09, 2021: Oman Arab Bank announced the results of the first draw of its Hasaad Savings Scheme for 2021. 101 customers won prizes of OMR 500 each, alongside 5 winners of OMR 1,000 each from the salary transfer segment. As for Elite account holders, two customers won OMR 10,000 each from the Ruwi and City Center branches.

Commenting on the launch of the new scheme, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB, said, “We are delighted to announce the first batch of winners for the latest edition of the Hasaad Savings Scheme 2021. This is the largest scheme in the Bank’s history, specifically designed to encourage our valued customers to save more and ensure a stable future for them and their families. The Hasaad Savings Scheme is a motivational programme aimed at enabling individuals to manage their finances wisely and save on a monthly basis, so that they can deal with any emergency or unforeseen circumstances. We, in turn, reward them for their efforts by offering several prizes each month. The more they save, the greater their chances of winning.”

The Hasaad Savings Scheme 2021 will see 101 lucky winners each month from the 54 branches winning OMR 500 each, as well as 5 winners of OMR 1,000 each, from those who transfer their salaries to Oman Arab Bank. This is in addition to a Big Prize draw which will see two winners of OMR 10,000 each, every quarter.

The Elite Draws will see two winners every month of OMR 10,000 each. This is replaced by an Elite grand prize draw conducted every three months with one lucky winner of OMR 25,000.

 

“I would like to congratulate all the winners of the first Hasaad Savings Draw for January. We wish our valued customers the best of luck in the upcoming monthly draws, which will take place till the end of the year. We foresee over 1,300 customers winning incredible prizes, ranging from OMR 500 to OMR 25,000.”

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 54 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services through its OAB Online App. Customers can now digitally open an account and benefit from several other services, directly from the convenience of their mobile phones.

OAB’s Innovation Hub Returns in its Second Edition Virtually

Muscat, 7 March, 2021: Following the huge success of its first Innovation Hub, OAB announced the launch of the second edition of the hackathon, which will be the first-of-its-kind to take place virtually in Oman on April 2, 2021. The 24-hour challenge will provide a remarkable opportunity for participants from three categories, namely students, Fintech/professionals and OAB employees, to showcase their capabilities and innovative ideas. Anyone wishing to participate can simply register via www.oabinnovation.com.

The first Innovation Hub was launched successfully in 2019 and saw the participation of more than 350 participants across 70 teams. Nine of the participating students joined the Bank’s innovation internship for a period of six months and four of them were offered employment opportunities at OAB.

Rashad Al Musafir, CEO of OAB, stated, “The world is very dynamic and it is our responsibility, as an established financial institution that is passionate about innovation, to pave the way for future generations. By enabling young people to turn their ideas into practical solutions, together with the support of experts in the field, we open a world of opportunity. We look forward to seeing individuals, both within and outside the Sultanate, taking part in the Innovation Hub 2.0 and presenting us with innovations that will shape the future of banking in Oman.”

The Innovation Hub 2.0 will begin at 12:00 pm on Friday, April 2 and will continue until 5:00 pm the following day, Saturday, April 3. All participants will have 24 hours to develop their innovations and POCs, alongside the support extended by several experienced companies supporting the event, including GBM, Phaze Ro, and Phaze Ventures. The virtual hackathon will also include a wide range of speakers and entrepreneurs in the field of financial technology from different countries, who will share their vision for innovation, their journey and success stories and how they have set themselves apart from competitors. These inspiring stories and several other activities will all be available to participants joining the Innovation Hub 2.0.

Leen Al Atassi, Head of Innovation at OAB and the supervisor of the challenge, said, “This year’s edition of the Innovation Hub will focus on two themes, innovation in Fintech and Tourism. During the challenge, participants from each of the three categories will have to develop their ideas and turn them into a prototype within 24 hours. Due to the current prevalent conditions, we have made the Innovation Hub 2.0 virtual, utilizing an online platform to allow all participants to collaborate with their team members and work collectively. Each team from all the categories will then present their ideas to a panel of judges.”

“With regard to the prizes for the hackathon, the winning student team will join a paid innovation internship programme for 6 months at our Innovation Lab, which is the first-of-its-kind in the local banking sector. They will be able to continue working on their idea and turn it into viable practical products or solutions, under the direct supervision of experts from the Bank. In addition, they will receive a cash prize and a chance to be employed by OAB. The winning team from the Fintech category will receive a cash prize, as well as potentially be awarded a contract by OAB to implement the solution and be launched into the market. The OAB staff winning team will be able to join the Innovation Lab to work on their ideas and benefit from the vast expertise provided by the Lab. All participants will receive a certificate of participation that will add value to their CV. The participation is open to the public, and those interested can enter individually or form teams with up to five members.” Leen Al Atassi added.

In the upcoming weeks, OAB will be organising several virtual workshops for students, in order to help them prepare for the Innovation Hub 2.0. The last date for registration is on March 30, 2021.

The 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 55 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

OAB Enhances Local Market Presence with Advanced Digital Service

OAB Reveals its New Edition of Hasaad Savings Scheme for 2021

Muscat, February 01, 2021: Oman Arab Bank recently announced the details of its new Hasaad Savings Scheme for 2021. The new edition has been enhanced to include even more prizes, to encourage the Bank’s customers to continue saving and enhance their financial stability.

Commenting on the launch of the new scheme, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB, said, “Despite all the challenges that were faced by everyone last year, the Hasaad Savings Scheme has been successful in promoting a savings culture across the community, which we believe is core objective of this scheme. Today, we are delighted to launch the latest edition of the Hasaad Savings Scheme for 2021, which has several great prizes in store for our valued customers across the Sultanate. I am confident that the new scheme will see a great turnout from our customers, who have been the cornerstone of our success over the past four decades.”

The Hasaad Savings Scheme 2021 will see 101 lucky winners each month from the 54 branches winning OMR 500 each, as well as 5 monthly winners of OMR 1,000 each, from those who transfer their salaries to Oman Arab Bank in the Platinum segment. This is in addition to a Big Prize draw which will see two winners of OMR 10,000 each, every quarter.

The Elite Draws will see two winners every month of OMR 10,000 each. This is replaced by an Elite grand prize draw conducted every three months with one lucky winner of OMR 25,000.

“At the end of the year, we look forward to seeing 1,300 loyal customers of the Bank win these amazing prizes. The Hasaad Scheme is a way for us to showcase our appreciation to them, for placing their trust in us as a financial institution and reinforces our efforts to be their “Partner for Life”. We look forward to conducting the first draw of the new scheme for January during the upcoming days and announcing the first batch of winners. We wish each and every one of our customers the best of luck,” he 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 54 branches and representative offices with 160 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 its December Hasaad Savings Draw

Muscat, January 27, 2021: Oman Arab Bank (OAB) has announced the names of the 131 winners of its monthly Hasaad Savings Scheme for December  2020 on January 26, 2021 at its Elite centre. This included 94 winners of the monthly branch draws of OMR 1,000 each, ten winners of the Children’s Account draw (OMR 100 each), twenty winners of the Youth Account draw (OMR 100 each), five winners of OMR 500 of the Bank’s Salary Transfer draw, one winner of OMR 50,000 of the Elite draw from Al Qurum branch and one winner of OMR 25,000 from Big Prize draw for the last quarter from Bahla branch. 2020 has seen the highest number of winners for OAB’s Hasaad Savings Scheme, totalling over 1796 winners over the year.

Commenting on the conclusion of the draw, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB, said, “As the year comes to a close, so does our Hasaad Scheme for 2020. We are proud to note the success of this programme due to a large number of winners across the wide pool of draws. As we welcome the new year, which will bring with it the launch of the new Hasaad Scheme and even more exciting prizes, we hope that all our customers will continue to maintain their savings culture, to build a more stable financial future for themselves and their future generations.”

“On behalf of OAB, I extend my warmest congratulations to the winners of the final draw, as well as everyone that has won during the year. I encourage all our customers to keep on saving, even more so as we launch our Hasaad Scheme for 2021, to increase their chances of winning. We wish everyone the 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 54 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

OAB Enhances Skills of the Youth and Entrepreneurs through its Learning Hub

  • Adil Al Rahbi: “Future job competencies will differ from what they are today and it is our role to empower and prepare the youth.”

Muscat, January 05, 2021: Oman Arab Bank launched the second batch of educational workshops on its online Learning Hub platform, which has received a positive response from its users. These include youth and upcoming entrepreneurs interested in enriching their skills in the fields of computer science, financial technologies and business administration. Following the launch of the second batch in November, several young individuals signed up to register and attend the innovative workshops that focus on a multitude of topics, including machine learning, artificial intelligence, new technology applications, business identities and other specialisations.

Commenting on the workshops, Adil Al Rahbi, Head of Human Resources Division at OAB, said, “A majority of institutions focus on launching initiatives centered on fields they specialise in. At OAB, we believe that our broader vision and role in society goes above and beyond the framework of financial services, through the provision of free educational services for the widest possible segment of young individuals. Future job competencies will differ from what they are today and it is our role to empower and prepare the youth.”

“To achieve this, we have entered into partnerships with specialists and institutions that are known to deliver expertise and knowledge enhancement. Agreements have been signed with renowned companies locally, regionally and globally, with the main aim to provide free educational sources to the youth and upcoming entrepreneurs in the Sultanate,” Al Rahbi added.

The second batch of workshops kicked-off on November 22nd and will continue until February 2021. Each will cover a specific topic and will be presented by an expert from within or outside Oman. All workshops are announced on OAB’s social media platforms on monthly basis. The launch of the second batch follows the success of the first series of workshops, which was launched earlier this year. The preliminary set of workshops saw over 700 participants attend more than 20 workshops in two months.

“Oman Arab Bank’s Learning Hub is the ideal platform for the youth to acquire a new and diverse set of skills to help them build a promising career in the future. Given the high number of registrations for the workshops, we believe that that the youth are keen to become the leaders of tomorrow and are proud to do our part in empowering them to achieve this objective,” Al Rahbi concluded.

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 54 branches and representative offices and 160 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

OAB Provides New Service for Tourism Facilities through its Digital Channels

Muscat, January 03, 2021: In cooperation with the Ministry of Heritage and Tourism, Oman Arab Bank launched a new service through its digital channels. The new development will allow entities in the tourism industry to directly pay their fees to the Ministry’s account, easily and efficiently.

Commenting on the new service, Khalid Khalaf Al Awfi, Assistant General Manager for Financial & Administrative Affairs, at the Ministry of Heritage and Tourism, said, “The Ministry of Heritage and Tourism continuously seeks to facilitate and develop procedures for investors within the tourism and hotel establishments by digitising relevant processes, together with private sector institutions. Through our partnership with Oman Arab Bank, we will see the provision of a suitable technical solution that links the payment of tourism fees via the Bank’s digital platforms, which is also in line with national e-government strategy.”

Abdullah Salim Al Hajri, General Director of Financial & Administrative Affairs, said, “We are confident entities in the tourism industry will appreciate this new service, which enables timely fee payments, no delay and promotes ease and convenience. This will reflect positively on the sustainability of their businesses, especially in light of the current circumstances and the tremendous challenges facing the sector. The government, represented by the Ministry of Heritage and Tourism, is working in cooperation with all concerned parties to overcome these obstacles and enable the advancement of the sector, sustainably.”

From his side, Sulaiman Al Hinai, General Manager, Head of Treasury, Investments & Government Relations Division at OAB said, “Oman Arab Bank is committed to developing technology solutions that enhance customer experience, for both individual and corporate clients. Today, we celebrate the launch of this new service, in collaboration with the Ministry of Heritage and Tourism. The new facility will allow owners of tourism-based entities such as hotels, restaurants, etc., to pay their tourism fees through our digital platforms, including the OAB Online App, our online banking services and ATMs across all governorates in the Sultanate. They can simply visit the app, navigate to the icon for paying the fees and fill in the required information. Once completed, users will have to enter the amount of money due, which will then be transferred directly to the Ministry’s account.”

Oman Arab Bank is considered one of the most advanced local banks in terms of digital services. The Bank’s journey began several years ago, with huge investments in its digital infrastructure which is now capable of providing efficient services to all of the Bank’s customers.

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 55 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.